THE RIGHT MORTGAGE LAUNCHES NEW PMI DEMANDS AND NEEDS STATEMENT AND PRESENTS AWARDS AT JULY SUMMIT
24 July 2023
The Right Mortgage & Protection Network and DA Club have today (24th July 2023) announced details of its recent Private Medical Insurance (PMI) Summit which took place in Solihull earlier this month.
Open to individuals from both appointed representative (AR) and directly authorised (DA) firms, the Summit was held on the 5th July and covered five round tables and two presentations specifically on the PMI sector, how to make the most of the sales opportunity, while also outlining the support and resource available from its specialist division, The Right PMI Network.
15 PMI providers attended the Summit, and the event was opened by The Right Mortgages’ Director, Amanda Wilson, who presented on the Consumer Duty rules, their implementation, and how they would specifically impact on PMI advisers.
The Right Mortgage also used the Summit to launch a new PMI Demand and Needs Statement for use by advisers, which is an automated document, fully in line with the Consumer Duty rules, which come into force on the 31st July.
The Summit also included an Awards Ceremony, which celebrated those advisory firms which had performed specifically well across a number of categories, including PMI business volumes, customers outcomes and compliance.
Four providers also received recognition with Awards presented to: Aviva – Best Group Provider; Vitality – Best Individual Provider; The Exeter – Best Customer Service; and National Friendly – Best BDM Team.
All four were provider sponsors at the Summit, plus 4C, AXA, Bupa, Freedom Health Insurance, Medicash, and SIP.
Earlier this month, The Right Mortgage & Protection Network and DA Club announced the appointment of Bipin Sandhu, as its new PMI Supervision & Development Manager. Bipin is responsible for working with member firms to help them explore the PMI sector, the growing client demand and need, and the advice and income-generating opportunities available, while also supervising activity in this space.
Amy Wilson, Head of General Insurance (GI and PMI) at The Right Mortgage, commented:
“Our recent PMI Summit highlighted the growing interest in this product space, and how advisers want to engage with their customers who have an increased demand for these products, for both them and their family.
“To say that PMI advice should be an important part of the advisory toolkit is an understatement, and our range of presentations and round-tables from sector experts, revealed how firms can make the most of this opportunity, and how they can take advantage of the specific resources and support we at The Right Mortgage provide.
“We’ve had some excellent feedback on the Summit from advisers, some of whom travelled a great distance to be with us, and who appear to have taken a great deal away from the day which will help them grow and develop their PMI advice propositions.
“We’re already looking ahead, not just to next year’s Summit, but also how we build more PMI information into both our network and DA club propositions, and how to provide our member firms with this so they can get the most out of this sector, particularly in our new Consumer Duty world.”
For more information on The Right Mortgage & Protection Network, The Right DA Club, and sister companies The Later Life Lending Network or The Right PMI & Healthcare, please contact: joinus@therightmortgage.co.uk or visit www.therightmortgage.co.uk
