The Intermediary –- May 2026 - Flipbook - Page 31
I N T E RV I E W
Price is an objection, and it’s a
valid objection. But if you can give
them the right advice and show
them the need for what you’re
recommending, it goes a long way
and most people will listen. They’re
listening to you for the mortgage,
so why would they not listen to you
when it comes to protection?”
mortgage process, it is fair to assume many
customers will baulk at the idea of adding a
protection conversation into the mix.
However, this assumption is one of the
reasons why advisers often underestimate
consumer appetite for advice in this area.
Hussain notes that in his conversations
with a broad range of advisers, networks and
clubs, the point at which the conversation is
introduced emerges as a key differentiator.
Some will wait until the end of the process, or
only mention it briefly, while others will bring
protection into the conversation early on.
He explains: “From the onset, they’re
mentioning it, saying ‘we’re going to talk
about home insurance with you, these are the
benefits, this is who we use’. So, it’s expected
by the client.
“Whereas some don’t really talk about any
of the insurances until the client’s had their
mortgage offer. Again, that may work perfectly
for some, but not for others.
“We’ve said, ‘oh, have you tried talking about
it right at the outset and guiding that customer
through the journey?’ and some of them
have changed their process, and it’s worked
perfectly for them.”
This is not just about timing, but challenging
brokers’ own preconceptions or assumptions,
and understanding how these have seeped into
the advice they provide.
For example, despite cost-of-living
constraints across the board, Paymentshield
found that 56% of consumers would pay more
for insurance if it gave them peace of mind and
the right cover. Indeed, despite concerns that
tightening belts could lead to less enthusiasm
for protection, many clients are increasingly
aware of the folly of leaving themselves open
to financial shock.
Advisers run the risk of assuming that clients
will reject products if they appear expensive,
failing to offer them – or doing so in a cursory
or dismissive way – and therefore missing out
on cover that the client would have considered,
had it been presented properly and fairly.
While customers are, of course, price
conscious, Hussain argues that there is more
depth to it than a simple percentage point; they
also value advice, reassurance, suitability and
peace of mind. In many situations, it is simply
a matter of finding the right balance for the
client in question.
Hussain says: “Price is an objection, and it’s
a valid objection. But if you can give them the
right advice and show them the need for what
you’re recommending, it goes a long way and
most people will listen.
“They’re listening to you for the mortgage,
so why would they not listen to you when it
comes to protection?”
He continues: “Sometimes brokers feel a
bit nervous about putting a price forward if
they already have decided it’s too expensive,
and they focus more on the price rather than
whether it’s the right product.
“That’s just human nature. But a lot of
brokers make the decision for the client, and
then don’t offer a product full-heartedly.
“The customer then says ‘oh, I might go look
online’, and they leave it at that. But it’s all
about spending time with that client.”
If insurance is dealt with as an afterthought
by the broker, the likelihood is that it will be
seen as less important by the client, as well.
While GI products can appear simple, leading
brokers and clients alike to veer toward selfservice in the pursuit of simplicity, Hussain
warns that this product can be highly nuanced.
He explains: “Buying online can be treated
as a non-advice product – simply saying, ‘this
is what buildings cover is, do you want it, yes
or no?’. But then, there’s the option for those
offering advice to say: ‘I’ve spent time with you
as a client, I know what you’ve told me about
your home, your contents, even jewellery, and
I can recommend these things to you because I
totally understand your circumstances’.
“Your client might not know what personal
possession cover is, for example, or home
emergency cover. A broker can explain it and
recommend it if it’s the right fit.
“Or for those that do know what these things
are, a broker can take the time to go through
it all again, because their circumstances may
have changed.”
If they are unaware of product differences
– at worst ignoring GI, or at best comparing →
May 2026 | The Intermediary
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