17 September 2008
PREFERENTIAL LAUNCHES TWO NEW INSURANCE SCHEMES TO HELP TRAVEL AGENTS THROUGH NEW FSA REGULATION

Preferential Travel Insurance is launching two new travel insurance schemes which aim to offer a straightforward route through the forthcoming introduction of FSA-registration for travel agents wishing to continue to sell travel insurance after 1 January 2009.

Preferential has put the schemes together after surveying over 200 independent travel agents to find out about the challenges they face. The two new schemes - 'Refer' and 'Prefer', cover options both for agents who have decided they wish to become an 'Introducer' or ‘IntroducerAppointed Representative’ (IAR) as well as those who have decided to become an ‘Appointed Representative’ (AR). Both schemes allow travel agents to continue to earn valuable commission on travel insurance.

‘Prefer’ Preferential is the scheme for Appointed Representatives (AR) of Preferential and all of its travel insurance products will be available through this. With this scheme, the travel agent decides what commission they earn on all standard policies and a pre-agreed commission on specialist policies.

‘Refer’ Preferential is the scheme targeted towards travel agents who have decided they wish to become an Introducer or an Introducer Appointed Representatives (IAR) of Preferential. For these, Preferential will provide a link for the agents’ website, and also a dedicated telephone line into its Southend based contact centre. Any policies issued by Preferential and referred by the Introducer or IAR travel agent will earn a pre-agreed commission.

Louise Lockwood, Preferential’s Business Development Manager comments, “The introduction of a new regulation from the FSA was never going to be straightforward, but we at Preferential think that it doesn’t have to be complicated. Its worth reminding agents that the sale of travel insurance can make a significant difference to their profit margin and we believe that these two new options offer the widest choice of policies available to agents, meaning that their earning opportunities are endless.”

“Whilst some insurers are limiting the numbers of appointed representative applications & introducer applications, we relish the opportunity to work closely with travel agents, lead them through the regulation and provide them with a profitable travel insurance scheme featuring products that many agents will not have had the opportunity to sell previously.”

If you are a travel agent and would like to discuss the two new schemes further, call Louise Lockwood on 07525 907854 or email on louiselockwood@preferential.co.uk.

For further press information please contact Sarah Lloyd-Morrison, or Madeleine Roast. e:sarah@magneticpr.co.uk /madeleine@magneticpr.co.uk