Quintessential Finance Group, the UK's leading financial technology business (fin-tech), is launching Myinsurance.co.uk, a direct-to-consumer website for insurance products.
Offering life insurance, critical illness and whole-of-life products, it will provide clear, concise and accurate information in order to ensure that the most appropriate insurance cover can be found, in the shortest possible time.
Powered by Quintessential's market-leading Pingtree technology, it gives consumers access to a panel of some of the UK's largest and most trusted insurers and brokers, including Legal and General, Aviva, LV, Pruprotect, AEGON and Zurich.
Myinsurance.co.uk has been developed in response to the growing demand for purchasing protection products online, which accounted for about 17% of the market in 2012. There were around 29 million protection, term and whole-life policies in force in 2012 and around 2.8 million new protection products were taken out in 2013.*
It will be the first time that Quintessential's Pingtree technology will be used outside of the lending market, and is a demonstration of its flexibility and agility that generates over 600,000 applications a month in that sector.
Myinsurance.co.uk will generate its own leads but Pingtree will also offer market-leading commission rates to affiliate partners using the platform to power their own sites. The range of insurers available will be whole of market, so ensuring that the customer will be offered the cheapest or most suitable policy for their personal circumstances.
Martin Chapman, Corporate Development Director of Quintessential Finance Group, said: " In the same way we now routinely buy airline tickets and car insurance online, we see an increasing trend toward consumers buying life insurance online. Myinsurance.co.uk will help consumers get quick and easy access to insurance protection products, whilst the Pingtree technology ensures a consistent supply of high-quality sales leads to our panel of insurers."