Aussie life broker launches in UK
Australian life insurance broker Lifebroker has announced its expansion into the huge UK market.
Lifebroker uses an online platform to provide life, income protection, trauma and total and permanent disability policies. It began trading in Australia in 2003 and offers cover from 13 insurers in the local market.
The company says it intends to shake up the UK life market, which is traditionally dominated by financial advisers aligned with individual insurers and banks.
“We’re starting small to make sure we get things spot on before we expand,” MD Chris Eade told insuranceNEWS.com.au. “We’re looking to do things a bit differently and we’ll offer a 50% discount on commission. We’ll give up half of it, which will reduce premiums for our customers.”
Lifebroker UK will sell personal insurance products for 17 UK insurers, including giants Legal & General, Norwich Union, Axa, Zurich Financial Services and Prudential.
The Melbourne-based company says it has recorded 100% growth in the past 15 months – but declined to disclose its annual turnover. It has recently launched into the NZ market.
Lifebroker uses an online platform to provide life, income protection, trauma and total and permanent disability policies. It began trading in Australia in 2003 and offers cover from 13 insurers in the local market.
The company says it intends to shake up the UK life market, which is traditionally dominated by financial advisers aligned with individual insurers and banks.
“We’re starting small to make sure we get things spot on before we expand,” MD Chris Eade told insuranceNEWS.com.au. “We’re looking to do things a bit differently and we’ll offer a 50% discount on commission. We’ll give up half of it, which will reduce premiums for our customers.”
Lifebroker UK will sell personal insurance products for 17 UK insurers, including giants Legal & General, Norwich Union, Axa, Zurich Financial Services and Prudential.
The Melbourne-based company says it has recorded 100% growth in the past 15 months – but declined to disclose its annual turnover. It has recently launched into the NZ market.