Paymentshield secures contract with Home of Choice

by Gill Montia

Story link: Paymentshield secures contract with Home of Choice

Paymentshield has been appointed sole supplier of buildings and contents insurance and mortgage payment protection insurance to Home of Choice (HoC), the UK multi-tied specialist mortgage network formed in 2005.

Paymentshield is part of the Towergate group and supplies mortgage related general insurance products exclusively to the intermediary sector.

At the same time, the firm’s sister company, Towergate Home & Protect has been signed up to provide non-standard products to HoC, sourcing cover from a panel of insurers that includes, RSA, Zurich, Norwich Union and Axa.

Towergate Risk Solutions is also involved and will be providing commercial services to the network.

The agreement is for an initial period of three years and is the first of its kind for both Paymentshield and Towergate.

HoC chief executive, Gerry O’Brien, explains that significant volumes of the network’s general insurance sales are Paymentshield products and that intermediaries have been impressed with the firm’s level of innovation, flexible commission options and its professional sales support team.

He adds that Paymentshield has the same technological capability as Home of Choice, allowing intermediaries to process business speedily.