The Right Mortgage & Protection Network and DA Club has shared details of its Private Medical Insurance (PMI) Summit which took place in Solihull earlier this month.
Open to both appointed representative (AR) and directly authorised (DA) firms, the summit was held on 5th July and covered five round-tables and two presentations on the PMI sector, how to make the most of sales opportunities, and the support and resources available from The Right PMI Network.
15 providers attended the summit, which was opened by The Right Mortgages’ director Amanda Wilson presenting on the Consumer Duty rules, their implementation, and how they would specifically impact on PMI advisers.
The Right Mortgage also launched a PMI Demand and Needs Statement for use by advisers, which is an automated document, in line with the Consumer Duty rules that come into force on the 31st July.
The summit also included an Awards Ceremony for advisory firms, across a number of categories, including PMI business volumes, customer outcomes and compliance.
Four providers also received recognition: Aviva for Best Group Provider; Vitality for Best Individual Provider; The Exeter for Best Customer Service; and National Friendly for Best BDM Team.
Amy Wilson (pictured), head of general insurance (GI and PMI) at The Right Mortgage, said: “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.”
She added: “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.”
