The new Business Protection Adviser Tool allows advisers to provide clients with a tailor made recommendation highlighting the appropriate product for specific business needs. The tool will also provide a an audit trail.
Advisers complete a fact find for each business owner, giving details of all information relevant to business protection. This helps establish the needs of the business and potential risks in the event of loss, whether through serious illness, death or incapacity of a key employee or shareholder.
The tool is designed to demonstrate to clients how it is possible to plan against potential loss by using key person cover, business liabilities, business succession and family protection.
Peter Hamilton, proposition management director at Zurich says: “We believe that the new tool will be a real asset to advisers who are new to the market, giving them greater confidence to address their clients’ business protection needs.
“Given the recent fall in traditional mortgage protection sales and the current economic uncertainty for small businesses, this undeveloped market segment provides a real opportunity for advisers to broaden their knowledge and help a broader range of clients”
Peter Chadborn, principal of CBK Colchester says: “The Zurich factfind effectively bridges the gap between the adviser’s awareness of the merits of the business protection market and their ability to begin effective dialogue with their client. The business protection tool not only serves as important guidance but also as a valuable compliance tool.”
