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Press Release 9 May 2006 UK Personal Finance takes the Matrix Just 2 weeks after unveiling the Matrix, a revolutionary new approach to mortgage payment protection insurance from Assurant Solutions, UK Personal Finance has signed-up to the product. UK Personal Finance's customers will be amongst the first to have access to the new product with its 253,000 policy combinations. This will mean that mortgage payment protection is designed to suit the individual needs and budget, rather than forcing an individual to accept a 'one-size-fits-all' policy. David Burrows, Managing Director of UK Personal Finance Limited comments: "We believe there is a need to substantially increase the sale of Mortgage Payment Protection in the UK to ensure that homeowners are adequately protected and repossession numbers are kept to an absolute minimum. However that protection must be tailored to suit each individual customer's circumstances and it must be priced appropriately. Assurant was the only company that could deliver this kind of solution so the choice was an easy one." The Matrix answers many of the criticisms levelled at payment protection products over recent months from consumer bodies and regulators alike. It enables lenders and brokers to offer their customers a level of flexibility and affordability not available through any other provider. The Matrix is accessed via a simple to use, white-labelled software application called Assurant Intermediary, which calculates the right cover according to individual customer profiles and assists a compliant sales process. Ian Moffatt, Sales and Marketing Director at Assurant Solutions, says: "It's gratifying to see the months of hard work and considerable investment coming to fruition and to see consumers benefiting from our new products. We're delighted that UK Personal Finance has chosen to partner with us and to be a part of the future of mortgage payment protection products. It's only been a few weeks since we unveiled the Matrix, but already we're in discussion with a number of other parties who are keen to see their customers benefit from its flexibility. "We believe that The Matrix meets the concerns of the FSA and consumer watchdogs head on. This product takes the flexibility and compliance of mortgage payment protection products to another level. The response we've had from brokers, and the support from both trade and consumer bodies has been tremendous. We genuinely believe the Matrix will become a blueprint for our industry." Assurant Solutions is a specialist in creating insurance products that
protect UK consumers' most valuable assets - their income, health, home
and possessions. It began work on the development of the Matrix and its
front end software platform, Assurant Intermediary, in 2004, recognising
the need for reform long before the FSA, the CAB and the OFT called for
change in the industry. Note to Editors:About Assurant SolutionsAssurant Solutions is part of Assurant, a premier provider of specialised insurance products and related services in North America and selected other markets. Assurant is traded on the New York Stock Exchange under the symbol AIZ and has approximately $US20 billion in assets and $US7 billion in annual revenue. Assurant Solutions companies develop, underwrite and market niche insurance, extended service contracts and other risk management solutions in collaborative relationships with leading financial institutions, retailers and automobile dealers, utilities and other entities. Principal lines of business include debt protection administration, credit insurance, warranties and extended service contracts on appliances, consumer electronics, automobiles, recreational vehicles and boats. They serve clients and their customers throughout North America, the Caribbean and selected countries in South America and Europe, including the United Kingdom, Denmark and Germany. Visit www.assurantsolutions.co.uk About UK Personal FinanceBased in Southampton, UK Personal Finance is a specialist in providing
mortgage payment protection products to Mortgage Brokers and Networks
throughout the UK. |
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