Leadbay enters protection market in response to 'overwhelming demand'
Lead provider Leadbay is to enter the protection market and provide life assurance leads to advisers, following a successful two-month trial.
The company said it is to provide term assurance and whole of life assurance leads across 124 postcode areas, along with the ability to select potential new clients by the amount of cover requested.
The company said the move to enter the protection market was following "overwhelming demand from advisers".
Grant Stevens, managing director of Leadbay, said: "We are expecting sales levels to soar because we've had so much demand from people saying that they want to sell more life assurance and yet it's not the sort of product that people often come into an adviser's office and say explicitly that they want to buy. So we are able to supply a ready source of consumers who have expressed an interest in life assurance and this can be hugely valuable to advisers."
Leadbay said every lead will be wholly exclusive to the adviser buying it and will be delivered as soon as the customer consents to their details being provided to the adviser. Consumers will also see the address of the adviser's business before the lead is passed on.
Leadbay said it will refund the cost of any lead for a consumer that cannot be contacted. Advisers can also buy leads in packages named 'leadbundles', paying a fixed price for a set number of leads. The system also allows advisers to choose what type of lead they wish to receive, differentiating by postcode, loan size and mortgage or loan type.
