Speaking about the results, Alan Collinson, Business Development Director at Berkeley Alexander commented:
“2014 is off to a great start for the industry as a whole, the housing market is recovering, mortgage application numbers are up by 20% according to the Bank of England, and more and more homeowners need protection for their most valuable asset in a time when growth of the economy is still uncertain. We held some concerns that the additional workload caused by a rising mortgage market might adversely impact on GI sales, but our results suggest that this is not going to be the case after all.”
However, Berkeley Alexander’s results reflect more than just a market trend. They demonstrate, it says, that it is ‘getting it right’ in terms of the unique model it provides.
Alan explains:
“We invested significantly in our Home, Landlords and ASU/MMPI propositions in 2013, and have built one of the largest home insurance product panels available to advisors. This has resulted in ongoing support from our distribution partners, who recognise that we are truly delivering something unique.”
However, Berkeley Alexander believes there is still much work to be done in 2014, especially in light of the figures released by Paymentshield. According to the survey, almost one third of homeowners are without vital protection. Some 34% have no contents insurance, 81% are without mortgage protection and a staggering 96% have no income protection.
