We understand the challenges faced when selling home insurance as a result of customers having a wealth of choice and access to aggregator and direct insurer websites. In order to assist you in overcoming these obstacles we developed ‘Premium Flex’, our online tool which allows you to adjust the premium and clinch the sale.

We have received excellent feedback following the launch of this facility nearly a year ago and currently 1 in 10 of our agents are utilising this option on a regular basis.

Why use Premium Flex?

We’re hearing almost every day how difficult it is for our intermediaries to compete on price with direct insurance providers and price comparison websites. Even though cheaper insurance might not offer the level of cover customers actually need, in a cost conscious world price can overrule the head!
 
Towergate Home and Protect work closely with Underwriters to keep our cover as high quality as possible and premiums as low as possible. However, direct providers and price comparison websites don’t pay commission, meaning they can offer rock bottom prices and sometimes even our prices aren’t low enough for you to win the business.
 
Yet, offering your client a great deal on their insurance can help build a positive relationship, encouraging them to come back with more business and recommend you to family and friends.
 
So, missing out on a GI sale means you not only lose out on the commission income stream the deal would bring, but also lose the opportunity to encourage further business down the line. This is where Premium Flex comes in!

How does Premium Flex work?

After listening to your feedback, we have developed new functionality for our quotation system which now enables you to reduce the premiums quoted, if you need to beat your client’s existing price.
 
Premium Flex gives you the choice to reduce the commission you would normally earn in order to directly lower the price for your customer. This way, although you may receive slightly less commission than usual, you still win the business and secure the relationship.
 
In the price presentation screen, just select the Premium Flex discount (commission reduction) you need from the Premium Flex drop down box. The quote illustration will be automatically adjusted to illustrate the discount in order for you to provide your client with details of the monthly or annual premium (in the case of Buildings and Contents).
 
You can choose the % commission amount you wish to reduce depending on how much you feel you need to drop the price and how important the deal is for you. Once you come to apply for the product you will be asked to confirm if you are happy to use Premium Flex and therefore receive a reduced commission payment before continuing; that way you’re protected from accidentally giving up a percentage of your commission without knowing.

The value of your knowledge and experience

Of course reducing your commission should be a last resort. Before you get to that stage its important your client understands the value of your knowledge and expertise.
 
Unlike a price comparison website you can listen to your customers needs, provide the best solution to meet their requirements and explain the benefits of the policy you’re offering.
 
However, even the best salesman can find it difficult to clinch the sale if all the client is looking for is a cheap deal which you can’t beat! Now Premium Flex gives you an additional weapon in your armoury!
 
For further information on Premium Flex, please go to the frequently asked questions section or alternatively, give us a call on 0844 892 1524 and we’ll be happy to answer any questions you might have. However, it really is simple to use so why not go ahead and try it and see what we mean.