About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, January 31st, 3:35PM
rss
Latest Headlines

Weinsure goes hunting for bean-counters

A Tauranga insurance broker plans to turn accountants and lawyers into insurance sellers.

Thursday, June 14th 2001, 12:06PM

An online insurance broker planning to use accountants and lawyers as its sales force begins marketing its services today.

Weinsure Ltd hopes to convince accountants and lawyers to recommend its range of discounted insurance products to their clients.

The lawyers and accountants will get a commission, while their clients will get insurance at a discounted price, Weinsure's Simon Beaton says.

Clients can get information and quotes from Weinsure's website (weinsure.co.nz) but must buy products through their accountant or lawyer, Barton says.

The company offers life, trauma, disability and medical cover. It will eventually also offer house and contents, and income protection insurance.

Tauranga-based Weinsure has signed up seven firms during a testing phase for the new venture. Today it begins pitching its services to other firms.

"Our target is 70 or 80 partner firms by the end of 2001," Barton says.

Weinsure aims to complete 80 proposals a week but will break even if it gets 10 a week.

Currently, the only products quoted online are from Sovereign. It was the only insurer willing to provide the raw data Weinsure needed to develop its discounted offerings, Barton says.

However, the company plans to remain independent and expects to eventually offer products from other insurers.

Barton says tapping into lawyers and accountants' client bases means Weinsure does not have to direct the same amount of energy into chasing customers as traditional brokerages. That means its commissions can be lower and its products cheaper.

For accountants and lawyers, offering insurance is a way to raise average income from each client, and to unlock the hidden value in their firm's client base.

The front page of the proposal signed by clients will make it clear that the lawyer or accountant involved will earn a commission, Barton says.

« Club Life gears up for businessEveryone's lining up for Life2go »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Strategy Thoughts

Tip from the top

Fidelity Income Protection
Changes to the wording make it easier to issue policies, but advisers should be careful about proof of income.

News Bites
Latest Comments
  • DIMS conditions clarified
    “What am I missing? I agree with MPT Heretic's questioning of the importance of NTA when the client or the custodian holds...”
    1 day ago by Murray Weatherston
  • DIMS conditions clarified
    “It is the final paragraph from MPT Heretic's response that caught my attention: Perhaps it is time for the playing field...”
    2 days ago by Pragmatic
  • DIMS conditions clarified
    “Well Minister Goldsmith does not have to look far to find unnecessary costs being piled onto adviser businesses and ultimately...”
    2 days ago by MPT Heretic
  • Demand for simpler trauma policies
    “Maybe Milton and the other Head Honchos should maybe suck the Sav a bit and dial down their profit margins eh! And dont give...”
    3 days ago by billy the broker
  • Demand for simpler trauma policies
    “The Lifecare product that Fidelity offer is a good way around the problem. I think a lot of people do not understand it. Appreciate...”
    10 days ago by Wall
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com