Lead generation company Leadbay has launched a trial in private medical insurance leads with Best Health UK and Chase Templeton.
Post trial IFAs and specialist health & protection brokers will be able to choose prospective clients by whether they want personal PMI or cover for their whole business; if cover is required for a business brokers will be able to see how many employees the cover is for.
Every person asking for PMI advice through Leadbay will have given their express consent for a named broker to call them. They will have seen the adviser's company name and consented for them to call before they submit their request for advice. Leadbay will refund the cost of any lead they confirm is uncontactable.
Leadbay entered the market off the back of specific requests from brokers. Jonathan Barrett, head of sales at Leadbay, said: "We were not going to enter this market yet but we had too much demand to ignore. The problems in this market are invalid leads, the client not wanting to speak, and the client not wanting that specific form of insurance. The express consent method negates all these issues."
Leadbay is currently looking at 50 to 60 leads a day but expect that to swiftly rise to 100 plus. "We will be launching exclusively to Association of Medical Insurance Intermediaries (AMII) members and then to the general market. However AMII members make up 85% of the PMI market anyway," said Barrett.
Debbie Kleiner-Gaines, executive committee member of AMII and managing director of Best Health UK, who will be helping with the trial, said, "I was becoming frustrated with the refund rules from the other providers. Leadbay's refund policy is excellent so at least you know that you only pay for a lead if it is a genuine business opportunity."
