Paymentshield Limited, the largest independent provider of mortgage related general insurance products, has appointed Teamspirit, the specialist financial service marketing agency its advertising, after a three way pitch which included Egg Design & Marketing and Masius.
The initial campaign, to promote Paymentshield’s MPPI (Mortgage Payment Protection Insurance), is expected to launch during Q2 with subsequent integrated campaigns to the intermediary market planned throughout the remainder of the year.
Fiona Kitchin, Head of Marketing for Paymentshield says: “As one of the leading providers of mortgage-related protection products, Paymentshield is very pleased to be working with Teamspirit. The agency’s understanding of the intermediary market along with its in-depth knowledge of the stringent rules and regulations governing this sector is invaluable.
"We believe that MPPI offers customers valuable protection in the event of accident, sickness and unemployment, and that in the main, anyone with a mortgage should consider taking it out. Particularly those people who have stretched themselves financially with their mortgage, and would be in dire straights in the event of unforeseen illness or unemployment. We want to highlight the need for this product with intermediaries and provide them with the means to be able to communicate this to their clients."
Paymentshield has paid out over £50 million in MPPI claims since July 2000, with unemployment claims accounting for 58% and disability claims accounting for 42%. The company sells its products exclusively through intermediaries (mortgage brokers, investment advisers and IFAs), and has been voted Mortgage Introducers ‘Best Provider of MPPI’ for the last three years, and Mortgage Strategy's 'Best Provider of MPPI’ for the last two years.
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For further information contact:
Joanne Parker
Managing Director
Teamspirit Limited
Tel: 0207 438 9400
www.teamspirit.uk.com
Notes to Editor:
• Citizen’s Advice Bureau reports that the average UK household has debts of £10,700 and has dealt with one million new debt enquiries in the past year.
• According to the Institute for Fiscal Studies, the UK population has £600 or less in savings and around a quarter of the population are £200 or more in debt. Lack of saving could cause financial hardship in the event of sickness accident or unemployment.
• 694,000 MPPI claims were paid out in the period 2000-2004
