Paradigm launches protection arm

clock

Paradigm Group has announced the launch of a protection and insurance proposition, Paradigm Protect.

The mortgage services proposition said the expansion into protection would allow advisers to maximise their protection business levels by making it easier to place business.

The service has been trialled with a number of broker firms since the start of the year and will officially launch to the market on Thursday 27 March.

Paradigm said it would look to match or beat the commission offered by competitors and would include a range of large and small providers under its new service.

Mike Allison, Paradigm's head of protection, will lead the new proposition which has providers Aegon, Aviva, Bright Grey, Legal & General, LV=, Skandia and Zurich on board.

He told Mortgage Solutions the use of standardised information across all providers would make it easier for brokers to compare products and write business.

The product categories covered by Paradigm Protect at launch include basic term assurance, whole of life policies, critical and serious illness, income protection, family income benefit, general insurance, impaired lives policies and cover for the over-50s.

Bob Hunt (pictured), chief executive of Paradigm Mortgage Services, said: "We have spent a considerable amount of time and resource putting together a protection proposition which will appeal to existing protection advisers and those looking to make a considerable splash in this marketplace.

"To do this we have worked very closely with a large range of providers who all recognise the benefits that Paradigm can bring in delivering a one-stop shop for advisers and their clients.

"We have established both a whole of market plus an elite choice panel that offers advisers a full range of the different product options available, ensuring that the commission terms we offer compete exceptionally well in comparison to other distributors. At the same time we are supporting our users with marketing, IT and compliance support in order to make sure they are seeing the full benefits in providing protection advice."

More on Individual Protection

Consumer Duty remains the biggest opportunity to expand protection

Consumer Duty remains the biggest opportunity to expand protection

"It is very easy to get bogged down in the regulatory requirements"

Andrew Gething
clock 18 November 2024 • 4 min read
NHS waiting list records drop in September

NHS waiting list records drop in September

A&E under strain

Jaskeet Briah
clock 15 November 2024 • 2 min read
COVER Protection and Health Summit 2024: In pictures

COVER Protection and Health Summit 2024: In pictures

Event on 07 November

COVER
clock 13 November 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read