releases
Fortis signs new deals to expand IFA distribution
19th October 2009
Fortis Life UK has continued its phased distribution roll-out with the launch of new partnerships with Direct Life & Pensions and Positive Solutions. The Life insurer has also integrated with the True Potential platform accessed by the Positive Solutions network and 250 other IFA firms. These deals almost double the number of advisers that can access Fortis' innovative protection products and application systems within the IFA market.
Following on from its successful launch in 2008 and its significant growth in its first year of trading, the new distribution deals support Fortis' strategy of expanding its IFA network in a controlled way to ensure market-leading standards of service are maintained to advisers.
Neil McCarthy, Sales and Marketing Director of Direct Life and Pensions said;
"Fortis has designed an innovative menu based product that certainly competes against the traditional players. They have identified specific features within the Term, Critical illness and Income Protection plans that advisers are going to be attracted to. We are looking forward to working with the team at Fortis as they develop YourLife Plan".
Mark Henderson, Senior Partner, True Potential LLP, commented;
"True Potential is delighted to welcome Fortis to our electronic business platform and wish the business every success with its expansion into the UK intermediary market. The new links mean that Fortis Life products are now available to the growing number of advisers who use True Potential, this amounts to over 10% of all IFAs in the UK, can now use electronic business links to quote and apply direct using single data entry. The speed of transaction is key and in the best interests of all parties, not least the client."
Martin Werth, Managing Director of Fortis Life added;
"We are delighted to be working in partnership with Direct Life & Pensions, Positive Solutions and True Potential and to be available to advisers through their leading systems. These organisations share our values of innovation, partnership and providing exceptional service to customers and advisers alike."
"Our objective is to make life easier for advisers and to roll out our products and services to all IFAs. But we will only do so by balancing a hunger to grow with delivering on our service promises. The phased approach we have taken to growing our distribution has allowed us to deliver the levels of service that advisers deserve and their clients should expect. Fortis Life now has over 100 people dedicated to improving IFAs business and providing better products and services to their clients."
"The best accolade for me is when our distribution partners feedback how much they love our way of doing business and that they would like to give us even more of their business. Every IFA and customer deserves the Fortis level of support."
Notes to editors
For further information, please contact:
Natalie Shale, Fortis UK, Tel: 023 8035 2754, E-mail: natalie.shale@fortis-uk.com
Fortis: Fortis (Insurance UK) is a leading provider of personal and commercial lines insurance solutions in the UK. Fortis UK has two main divisions, manufacturing both non-life and life products, which are distributed through a range of channels including brokers, IFAs, intermediaries, affinity partners and the Internet, as well as various wholly or partially-owned companies (RIAS, Fortis Insurance Solutions, Affinity Solutions Ltd, Text2Insure and InsureTECH Systems).
Fortis insures in excess of 6.9 million customers working with a range of partners. It employs almost 3,000 people with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Reigate, Haywards Heath, London, Redditch, and Stoke-on-Trent.
Fortis Holding (Fortis SA/NV and Fortis N.V.) consists of (1) a 75% ownership of Fortis Insurance Belgium (2) Fortis Insurance International, (3) a 45% stake in Royal Park Investments - a structured credit portfolio entity - and (4) financial assets and liabilities of various financing vehicles. Fortis Insurance Belgium is overall market leader and a leading player in the Employee Benefits market. The international insurance activities (Fortis Insurance International) are located in the UK, where Fortis is the third largest player in the market for private car insurance, France, Hong Kong, Luxembourg (Non-Life), Germany, Turkey, Russia, Ukraine and joint ventures in Luxembourg (Life), Portugal, with Millenniumbcp Fortis being a clear market leader, China, Malaysia, India and Thailand. Fortis currently employs over 10,000 people.
Direct Life & Pensions is a major player in the protection market, providing quote and apply services to advisers via its LifeQuote Portal which integrates the Intelligent Protection system, and working with specific Partners to deliver protection products directly to consumers. DLPS processes in excess of 6,000 protection applications every month.
Positive Solutions is one the UK's leading national IFA firms with over 1,000 Partners. Its unique financial planning process is designed to revolutionise the way that independent financial planning is delivered to the consumer.
True Potential is one of the UK's most advanced technology platforms for financial advisers. It offers a high specification technology solution that works in a compliant fashion to offer advisers a simple, effective and unique end to end process. The infrastructure is designed to increase adviser productivity and reduce overheads.
