Neilson Financial Services (NFS), UK provider of direct to consumer life insurance, announces the launch of online, protection-only comparison service, Choozi this week.
Launching with an initial panel of 6 insurers*, and built on UnderwriteMe’s Protection Platform technology, Choozi offers a range of critical illness and underwritten life insurance products direct to consumers who are looking to purchase cover online. More insurers and guaranteed whole of life products for the over 50’s will be added in the next month.
Following completion of a straightforward questionnaire, customers can see live, underwritten prices, compare product features with Defaqto ratings and purchase suitable cover without leaving the Choozi website. Telephone guidance is available at any point in the process and signposting to whole of market advice where appropriate, is being planned into the customer journey.
Commenting on the launch, Pippa Keefe, NFS Partnerships and Strategy Director said “We’ve witnessed a shift in distribution channels to online comparison sites over recent years for purchasing a variety of insurance products, widening the audience as they become mainstream. By making it easy and convenient to compare and purchase protection online, Choozi will help more people find the right cover at the best price.”
She continued “The most exciting aspect of Choozi is that it brings a unique ‘hybrid’ distribution approach to the UK market, with a direct-to-consumer comparison and purchase service meeting both guided and full advice where required. This recognises that customers with different purchase preferences and product needs don’t want to be shoe-horned into a one-size-fits-all sales process. If customers start the comparison and purchase journey online through Choozi but need help, they can request human guidance and then either return to the online journey or be helped to complete manually. We will also incorporate signposting to our whole of market advisers where it becomes apparent that the customer has more complex underwriting or product needs.”
NFS has become the latest company to join 26 organisations already committed to the cross-sector working party voluntary Agreement on access to protection insurance for people with pre-existing medical conditions and disabilities, which launched earlier this year.
Johnny Timpson added “Both personally and as Cabinet Office Disability and Access Champion for the Insurance Industry I warmly welcome Choozi to UK insurance market and their commitment to inclusion and ensuring that competition works for all consumers, especially by becoming signatories to the voluntary Access To Insurance Signposting Agreement, for people with disabilities and health conditions.”
Choozi Home Page: https://www.choozi.com/
* Insurer panel: Aegon, Canada Life, HSBC, LV=, Royal London, Scottish Widows
Founded in 2012, Neilson Financial Services (NFS) is a UK specialist provider of life insurance currently selling thousands of proprietary policies per month in the UK*. NFS provides insurance products directly to consumers via the retail brands British Seniors and Smart Insurance as well as offering a partnership proposition including white-labelling capability. Having a full suite of distribution and policy administration capabilities in house, as well as a bespoke, proprietary IT platform, means NFS can offer closely synchronised online and call centre operations to provide a complete omni-channel customer experience. NFS offers a fully advised protection service through its independent advice business, Neilson Place launched in May 2020 as well as a direct to consumer protection-only comparison service ‘Choozi’, launched in June 2020.
NFS was founded by Gavin Donnelly, who previously co-founded Greenstone Financial Services (GFS) in 2007 which is now the largest life distributor and aggregator in Australia, selling 10,000 policies per month. GFS represents 42% of the direct life market (61% of media driven new business) and 45% of the aggregator market through its ‘Choosi’ brand. *
*All figs as at end April 2020
This information is for authorised intermediaries only and should not be presented to, or relied on by, retail customers. It is approved and issued by Neilson Financial Services Limited. Neilson Financial Services Limited is authorised and regulated by the Financial Conduct Authority and entered on the Financial Services Register under reference 594926. Registered Office: Landmark Place, Windsor Road, Slough, Berkshire, SL1 1JL. Registered in England and Wales, number 07986483.