Only 10% of brokers have developed an own-brand household scheme, according to research conducted for PlusOne. And even fewer have developed an own-brand accident, sickness and unemployment scheme.
But the Broking Now! research indicates over 40% of brokers are interested in seting up such a scheme.
More than 250 brokers were interviewed as part of the research. Smaller brokers were less involved in own-brand schemes than their super-regional counterparts.
Simon Hood, chief executive of PlusOne, said: “Contrary to popular belief developing an own-brand personal lines scheme is neither time consuming or expensive to set up. The levels of business required to make is viable is also reducing through use of efficient technology.
“Brokers with healthy books of existing business as well as those looking to continue to expand their brand through to their loyal consumer base can now benefit from a professionally run own-brand scheme which will both enhance its reputation and generate income whilst someone else does the work.”
