WPA is intending to re-enter the private medical insurance (PMI) broker market with the launch of an online system that will remove the administrative burden from IFAs selling the insurer's products.
For the past five years WPA has been sold through a national network of 100 franchised agents who target the individual and SME markets, with the bulk of an agent's income through high retention levels, and this system will remain. The proposed IFA market will target those companies of between 15 and 50 personnel, a market WPA believes is ripe for growth. Adrian Humphreys, managing director, corporate at WPA, explained: We are looking for 10 – or 15 if pushed – IFAs to sell into this market. We are not looking at the larger employee benefit firms here, but the smaller IFAs.” WPA has a...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes