MortgageStream has launched a range of analysis tools to enable brokers to easily identify additional business opportunities.
The new GAP Analysis tool enables brokers to identify clients that have not been sold supporting products, such as life insurance, mortgage payment protection insurance (MPPI), and contents insurance.
MortgageStream says the new tool will help brokers comply with Treating Customers Fairly (TCF) regulations, as they allow the broker to better advice on all aspects of buying a home, including additional insurance products.
The tool will also prevent brokers’ clients from being poached by lenders and other advisers who might look to fill the gaps in their insurance coverage.
Paul Holden, sales director at MortgageStream, says brokers need to adapt their selling processes to the current market and the GAP Analysis tool is designed to assist them.
“Brokers traditionally hunt for new clients but in tougher times, such as now, they need to pursue alternative opportunities, such as the need to sell additional life insurance products to those existing clients who may be unprotected,” he explains.