Pink Loans And LifeQuote Reveal Life Insurance Applications Boost

Mon, 17 Mar 2008

Pink Home Loans has revealed it received a record 37.3 per cent rise in applications for life insurance provider LifeQuote, compared to January 2007.

In addition, the loans company said application business levels have increased by some 133.6 per cent over the last two years.

A recent consumer survey by Pink suggested that the state of the current mortgage climate may be having a positive effect on life insurance business levels, as it revealed that 43 per cent of respondents are selling more life insurance products due to the on-going liquidity crisis.

The remaining business areas that have shown growth according to intermediaries of Pink, following the credit crunch, are general insurance business and conveyancing.

"The Pink Survey results show that the current market conditions are having a positive impact on other income sectors, with life insurance having the largest increase for Pink’s intermediary customers," commented Neil Hoare, associate director of marketing and IT.

"In the case of life insurance, I would suggest that this is a combination of intermediaries actively looking for business to supplement their mortgage incomes, given that the housing market is experiencing a challenging start to the year, as lenders review their risk models and margins," he added.

LifeQuote’s sales and marketing director, Richard Verdin, added: "We are delighted to see our business levels with Pink increase, as we have worked hard to provide our customers with high quality service and a simple life insurance sales procedure."

"We look forward to continuing our relationship with Pink and seeing business levels increase furthermore in the future."
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