Affiliates
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You can become an i:protect Affiliate if you have an FSA registered business |
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Continue to offer your clients MPPI, short term Income Protection and PPI on-line |
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Highly competitive premiums, see Income Protection on MoneySupermarket.com |
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Freedom from compliance concerns; iprotect handle all aspects of the customer journey |
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Your customers access on-line buyers guide and other information to assist them to choose the cover they need |
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Simple on-line application process with the assurance that every policy is underwritten at inception |
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Finders fee for every policy sold confirmed with monthly MI and no claw backs |
How to join the i:protect Affiliate Partner Scheme
There are currently several niche insurance products provided by iprotectinsurance.co.uk with further planned releases of both Protection and Personal Lines products to follow over the coming months. Many different types of intermediaries may consider one or more of these products could appeal to their on-line customers. More importantly, they offer the intermediary additional income without any outlay, costs or diversion of resources.
Becoming an Affiliate Partner of i:protect could not be easier. It is completely free of charge and irrespective of the size of your business, provided you are authorised by the FSA, available for your business to join today
Special Offer
We are making a special offer to the next 20 new Affiliate Partners of iprotect with the following benefits:
- You do not have to make any commitments regarding projected business, we appreciate affiliate marketing is often unfamiliar territory and we would like you to try it rather than be put off by any artificial barriers
- We will assign an individual person as your single point of contact within the Wessex Group. They will handle all aspects of you registration and send you the link you need to add to your website. By managing the end to end process they will give you the assurance that everything works before you go live. You will not be left to potentially struggle with a complex on-line sign up process.
- Even if you only provide one new policy a month we will still send you regular monthly reports so you can track who bought what and when. For larger/high volume Affiliate Partners we provide 24/7 online access.
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We are waiving the usual £100 minimum payment threshold for monthly finder's fees. Following every sale you will receive your fee even if it was for just one policy. You will not have to wait until your fees exceed £100 before receiving the payments you are due.
Choosing i:protect
Because i:protect is an internet only low-cost provider of insurance products, the premiums we charge the public are very low. Our Mortgage Payment Protection Insurance for example, is the top for value on Money Supermarket for over 80% of buyers of this type of insurance. We are not insurance brokers. We market products on behalf of major insurance companies directly to the public. This eliminates duplication and allows i:protect to deliver attractive low price products and still generate sufficient income to pay a rewarding finder's fee to affiliates for every policy sold.
For customers it is not just the low prices that attract. After people buy a policy on-line, all subsequent support is provided by trained professional staff at i:protect's parent company the Wessex Group. This is a highly experienced team based exclusively in the UK with an ethos of treating customers fairly. They deal with people on a one to one basis and have an exceptional number of unsolicited customer thank you letters to prove that people value this approach. A representative sample of the comments customers have made are displayed on our website. People generally take out a policy with i:protect due to low premiums, however you can be assured that they continue to receive both good value and good service.
How would i:protect's affiliate scheme work for you?
After you sign up you will be provided with a unique identification code for a bespoke link into the i:protect web environment. We also supply logos, images and wording to use on your site in a format, size etc that complements your website. When a person clicks on this link they are directed to i:protect and tracked. Any policy the customer then buys will generate a finder's fee for you. We also supply monthly reports to identify each sale. For high volume affiliates we can offer on-line 24/7 reporting to monitor sales and fees on a day to day basis.
How popular are i:protect's products?
Since October 2007 i:protect has grown to the become a benchmark for value in the UK, quoted in the Press and also;
- Featured as the 'cheapest MPPI insurer' on MoneySavingExpert.com.
- One of the lowest cost providers on FSA's consumer website Money Made Clear
- Highly competitive MPPI on Money Supermarket up to age 45
- Introduction of multiple product variants for different customer groups and targeted campaigns including Lifestyle Protection, Income Protection, Unemployment Insurance, Tenants Lifestyle Protection, Redundancy Insurance, Loan Insurance, Mortgage Insurance and MPPI
The potential for growing sales is extraordinary. This is because more people than ever before value the benefit of an inexpensive policy that pays their biggest bills for up to a year if they are unable to work due to Accident Sickness or Unemployment.
Finder's Fee
Finder's fees for our Protection covers and Gadget Insurance vary due to the different business model and IT requirements of individual affiliates. Each potential Affiliate Partner will be advised upon application. Due to the highly regulated nature of insurance sales we regret that we are unable to directly handle applications from intermediaries who are not FSA regulated at this time. You can still register an interest however as we have an arrangement with a Partner Affiliate Aggregator who may be able to assist you.
The overall level of reward means that our affiliates gain virtually all of iprotect's income for the first year of the policy. After the customer pays one installment we pay our affiliates. If the customer subsequently cancels their policy this is our risk, the finder's fee is paid to you in full and remains unaffected by any subsequent cancellation.
How to become an i:protect Affiliate Partner
Simply complete the Affiliate Partner registration screen and it will be reviewed within 3 working days. We have a Terms of Business Agreement that you can view on line or download, to enable you to be satisfied with the terms and conditions before going ahead. Please see the link in the top left hand margin of this page.
Completing the application form simply indicates you have expressed an interest and does not mean you have made any commitment to take this forward.
By submitting an application form now you will ensure you have secured your place with the special offer applicants. When we reach the special offer limit this web page will be carry our revised conditions of entry.
If you prefer to send letters rather than email, or wish to post hard copy correspondence, please write to Business Development, iprotect Insurance, Wessex Group, Jewry House, Jewry Street, Winchester, Hants SO23 8RZ.
Links:
Affiliate Registration screen
Affiliate Partner Agreement (specimen TOBA)
Affiliate Overview Presentation
Press Release
Free direct to public on-line sales system for Intermediaries to banish FSA worries
Issued 9 November 2009
Internet insurance specialist iprotectinsurance.co.uk provides a free solution for intermediaries to add Mortgage Payment Protection Insurance (MPPI) and short term Income Protection Insurance (IP) to their websites. Mortgage Brokers are also signing up to this because of the continuing uncertainty surrounding FSA regulation of these products. They can then leave on-line sales compliance to iprotect and concentrate on more profitable business.
This is an option for firms that want to sell MPPI and IP without the compliance concerns of their traditional sales model. Massive fines for mis-selling and plunging profitability have led both intermediaries and underwriters alike to think seriously whether they want to be in this market. The distributors of MPPI and IP now feel their point of sale model is under attack. The regulator having banned single premium contracts, then promptly made monthly contracts a liability to sell by blocking 2009 rate increases and product changes. Barclays High Court victory overturned the Competition Commission's 7 day rule, however, it is little consolation as the industry must still await the regulators response.
With such uncertainty in the market, intermediaries are unwilling to invest in systems especially as there remains the fear compliance costs will soon wipe out any profit. As an alternative to simply giving up selling these products, iprotect offer intermediaries their affiliate solution to tap into the recession driven demand for this insurance. With iprotect the sales process moves on-line and is strictly non-advised. However the customer is supplied with a wealth of information, buyers guide, links to helpful websites etc to help them complete the sales process.
The gross sales of MPPI and IP products have fallen to an historic low, however in contrast, on-line sales are at record levels. To secure their share of this on-line boom, the intermediary simply enables an iprotect link on their website free of charge. They will then earn a finders fee for every policy sold.
The forthcoming FSA driven annual statements are expected to trigger a great deal of shopping around for MPPI and Payment Protection Insurance generally. Any intermediary unable to offer a competitive on-line product will simply risk being bypassed. Dennis Haggerty the Marketing Manager for iprotectinsurance.co.uk commented "Our free affiliate package is an easy way for the Intermediary to opt into on-line sales to see if the internet works for them. Brokers can leave the compliance hassle behind and keep their clients happy with iprotect rates that compete with the best on Money Supermarket."