"Our priority is to make life easier for advisers."
- Holly Ewing, Distribution Director at OneFamily
Beagle Street has stated that its priority will be to make advisers’ lives easier, by providing a simple process and attractive products that’ll support firms seeking the right cover for their customers.
Holly Ewing, Distribution Director at OneFamily, said “We’ve been working hard to build a strong team and are investing in technology that will mean we have an exciting offer when we bring it to market next year.”
She explained: “Our recent research found that around 10mn young adults don’t have Life Insurance. Why? Around three in ten said it was because they didn’t think they could afford it. This is a huge protection gap and must be urgently addressed to ensure that a whole generation of adults & their families aren’t left in a vulnerable position.
“Life Insurance is a basic financial requirement for anyone encountering a major life event, such as the birth of their first child or getting a foot on the housing ladder, and it's often better value than people think. That’s where advisers can help.
“Over a third of those with Life Insurance said that they had chosen to source their insurance through an intermediary who could highlight the different options available to them. But we also know that the systems that advisers are working with to support their customers are far from straightforward to use and that they find this frustrating.
“So, we’ve put advisers’ needs right at the heart of everything we’re doing, to design an easy-to-use platform that will exceed their expectations when we launch. Our priority is to make life easier for advisers,” Holly added.
Responding to this announcement, Paul Yates, Product Distribution Director at iPipeline, said Beagle Street’s entry into the intermediated protection market is a “welcome one, widening the choice in the largest sector of the protection market which has seen some consolidation recently.”
He explained: “Beagle Street brings considerable experience from the D2C market and knows how to develop relevant products for their target markets and get their message across simply and compellingly.
“Considering the FCA’s intention to launch a market study, promoted by fears of a lack of competition leading to unsatisfactory outcomes for customers, it’s encouraging to see more options emerging in the protection sector. We hope others will follow their lead and that providers will also increase their distribution channels and product types,” Paul concluded.
Developments:
Today, Iress has announced that Beagle Street will go live on its sourcing platform, The Exchange, as it prepares to enter the intermediary market in 2025. Warren O’Connell, Head of Business Development & Sourcing at Iress, said “We’re delighted that Beagle Street has selected The Exchange to launch its products to the intermediary market. By joining our platform, Beagle Street will tap into a significant distribution network of mortgage and protection brokers.”
He mentioned that this partnership also underpins Iress’ commitment to offering its intermediary customers the broadest range of products.
“We’re pleased to be working with Iress as we move to the next stage of growth in the protection space. We’ve been working hard to build an extremely strong team and are investing in technology, which means we will have an exciting offer when we bring it to market,” added Holly.
