The Intermediary –- May 2026 - Flipbook - Page 33
I N T E RV I E W
approach, brokers should not have to leave
their systems, re-enter data or manually
duplicate information. Using Paymentshield’s
systems, they can also track quotes, track
conversions, and evidence value.
“It’s not an afterthought, then, because it’s
there in their face, the reminder that we need
to talk about this,” Hussain says.
“And with these integrations, it pre-fills
information based on what the customer has
already provided during their conversations.
“So, when brokers say ‘we don’t have time
to talk about home insurance or GI’, well we’re
cutting the time down for them – making it a
lot easier and quicker.”
This advancement, he is clear, is being used
to support advisers, remove administration
and improve the customer journey by avoiding
repetition. What it does not aim to do is replace
advisers or automate advice entirely.
Hussain explains: “The market’s becoming
more dynamic, with digital-first and direct-tocustomer models increasing. That’s all to do
with accessibility and price transparency.
“This doesn’t diminish the value of advice.
As the products become more commoditised
online, brokers have the opportunity to
differentiate their expertise. They can make
it personal. They can have those holistic
financial conversations. They can provide that
meaningful advice and add value to customers.”
More than a third-party
For those brokers that still feel time-poor,
ill-equipped, or simply unwilling to add yet
another product to their portfolio, referral is an
important option to ensure that clients are still
being treated correctly under Consumer Duty
terms. While this can be the easier option, it is
important to work with the right partner, and
prepare customers properly.
Paymentshield’s own referral proposition
was launched in 2023. Referral volumes have
risen around 36% year-on-year, and in its
most recent research, the business found that
around 30% of advisers found referral to be the
ideal route for GI sales. Through the business’
referral portal, brokers can track their cases
and keep an eye on their clients’ progress.
Still, Hussain explains that referrals only
work well when the customer is expecting
it and understands that it is in their best
interest. Otherwise, an unexpected call from a
third-party might feel jarring, or worse, seem
like spam.
“Warm up the client, let them know that an
expert’s going to be calling,” Hussain advises.
“Then from our side, it’s important to provide
Brokers have the opportunity to
differentiate their expertise. They can
make it personal. They can have those
holistic financial conversations. They
can provide that meaningful advice”
brokers with the confidence that, if they are
going to refer, the client is going to have a good
experience. Something that the broker wants
to associate their brand with.”
Hussain notes that brokers could go one step
further in this effort to make the client feel
comfortable ahead of a referral. Paymentshield
calls from set numbers, for example, which can
be provided to the client in advance for peace
of mind, and to avoid calls being screened and
opportunities missed. With a conversion rate
of around 45%, Hussain says it is “worth having
trust in our proposition.”
Part of this value, he continues, is
Paymentshield’s sales team. Beyond just
its size, this team also includes embedded
expertise stretching back over two decades.
This is not just about selling a product,
Hussain says: “It’s about what the adviser gets
from that sales team to enable them to better
support customers and change or grow their
business. What support do they actually need?
“It could be help and training around how to
propose the GI conversation. Or maybe you’re
actually quite good at GI business. But how can
you grow? Because if you do 100 mortgages a
month, but you’re only doing 10 GI sales, that’s
good, but you’ve got a massive opportunity
that you’re missing.
“So we really get in with them and have that
business planning type of conversation, helping
them to grow and supporting their customers.”
Paymentshield also offers added value
with its GI Academy for advisers, as well as
providing marketing material – from face-toface through to electronic – that advisers can
white-label to boost their business and make
the GI conversation easier, without adding
unnecessary work to their day.
Overall, this is not just about adding
to Paymentshield’s bottom line. Instead,
Hussain is clear that this is a matter of market
improvement for everyone’s benefit. To that
end, he is “happy to just promote GI, because
we believe that if we can get everyone to sell
more, then we’re one step closer to achieving
our ultimate objective, which is to make sure
every home is properly protected.”
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