Paymentshield

Paymentshield is passionate about understanding our customers’ changing needs and this year we have invested significantly in research and innovation to improve our proposition. Our own satisfaction survey results had indicated advisers wanted Paymentshield to provide client information in a more modern and convenient way – so that’s exactly what we did.

We created and launched Adviser Hub, a market-leading digital platform that enables advisers to access a holistic overview of their GI business. At each stage of development, we requested feedback from users, which has allowed us to deliver specific improvements that combine to provide the ideal solution. Adviser Hub is therefore, a genuine example of listening to what advisers need to drive their GI business and putting it into action.

We wanted to:

  • Provide brokers with vital information about clients’ policies and the status of sales
  • Make the application process as simple and efficient as possible
  • Establish Paymentshield as a trusted, transparent business partner
  • Increase policy sales
  • Improve adviser engagement

Adviser Hub, provides advisers with a personalised dashboard providing MI on in real time – something no other GI provider offers. Users can log in and instantly see a month-to-date view of their performance, with quote, submission, conversion, renewal, cancellation and retention figures displayed. They can see the live status of policies, with the ability to filter this by their firm, agency, seller, product and month, enabling them to produce tailored reports.

The user experience is exemplary. Visual elements in the quote journey simplify difficult questions, the website is responsive and intuitive, and updated branding makes it a pleasure to use.

In addition, we have delivered a unique marketing campaign ‘Every Time’. Our research showed that 94% of advisers felt that it was best practice to discuss GI with every mortgage client yet they weren’t actually having those conversations. So, we set out to tackle those reasons head on through campaign messages and the creation of bespoke adviser tools to help them feel more confident discussing general insurance. All of these tools are freely available on our website.

We can see the campaign has supported advisers have more conversations about GI with sales from all products increasing 17% YOY. However, the biggest and most rewarding change is perhaps how it’s deepened our relationship with our business partners who are seeing us proactively reaching out to advisers to change the perception of GI in the industry and to provide advisers with the tools they need to help them do their job.

Testimonial
Paul Shearman, Mortgage & Protection Proposition Director at Openwork, said: “General insurance is a vital component of advisers’ proposition, as well as an important contributor of recurring income to advisers and the Network. The launch of Paymentshield’s Adviser Hub is a significant step forward in helping advisers to more actively manage their GI business, which has got to be good news for them and their clients. The system is straight forward and I know has been built following significant input from Openwork’s advisers and others in the broader market.”