Openwork triples protection policy recommendations

clock • 1 min read

Network Openwork tripled the number of protection policies recommended to clients last year after increasing its adviser capacity.

Openwork advisers wrote 134,000 policies in 2015, covering a total of 160,000 individuals.

This is an increase of over 200% as the network had written 44,000 policies in 2014.

The network said it considers protection to be a "core element of its advice process".

In June 2015 it divided its distribution business into three specialist business units - protection, wealth and mortgage.

At the end of 2014 Openwork took on over 750 protection advisers from MetLife UK.

Mark Duckworth, chief executive officer of Openwork, said: "Protection is the cornerstone of both our business and approach to advice and it is extremely pleasing that we have managed to triple the number of individuals covered in such a short space of time.

"We remain absolutely committed to growing our protection business as part of our efforts to close the UK's protection gap and we commend our advisers across the whole network for ensuring their clients and families have adequate and appropriate cover."

 

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