Paymentshield has reported year-on-year growth in its Refer and Protect proposition, with total new business volumes rising by 219% since its launch in summer 2023.
When comparing July-December 2024 to the same period in 2023, Paymentshield exceeded expectations for sharp growth.
Paymentshield revealed that total quotes delivered increased by 289%, while new business sales via telephone rose by 193%.
The quote to sale conversion rate from the telephone referral team improved from 42% to 44%.
The Refer and Protect proposition allows advisers to refer customers to Paymentshield’s team of in-house experts for general insurance discussions.
This service supports advisers who want to offer home insurance quotes without having to provide direct advice.
The initiative contributes to Paymentshield’s goal of ensuring homes are adequately protected with quality insurance.
Emma Green (pictured), distribution director at Paymentshield, said: “These results are a testament to the faith that advisers have placed in Paymentshield, and to the hard work and expertise of our telephone referral team.
“We have fantastic conversion rates across the board, but especially so where customers are speaking to our team.
Green added: “It’s clear that even in a tough market, there will remain buoyant consumer demand for proper protection of their most valuable possessions and we’re in a really strong place to support this following the recent additions to our Home Insurance panel.
“As 2025 plays out, we will remain on hand to support advisers in adopting new quote and integration capabilities into their GI business so that they can seamlessly benefit from the significant general insurance opportunity that exists for them.”
