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We’re adding LV= Doctor Services to all business protection policies

Free business legal advice and tax guidance for your business protection clients

Business Protection

How to find Business Protection clients

Business Protection can be very lucrative – the amounts of cover and monthly premiums tend to be significantly higher than personal policies. However, many advisers find it difficult to establish themselves in this market, assuming they don’t have an existing client base, or are unsure on how to network appropriate leads.

The following overview is a high level guide on how to find Business Protection clients and market your services effectively.

Your starting point should always be your existing client base. For more details, visit our how many steps are you away from Business Protection section.

Finding new clients

Business Protection has been designed for small-to-medium (SME) owner-managed businesses. SMEs can be more at risk compared to larger companies, as senior management have key roles and succession planning isn’t necessarily on the agenda.

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Initial contact should be made on the phone, targeting business owners. Don’t be put off by speaking to receptionists and PAs, as it gives you the opportunity to find out a bit more about the business. When you do speak to the decision maker, grab their attention straight away by explaining you specialise in providing financial consultancy services to their industry, and are based down the road. The initial call should be quick and concise, and followed up by a letter or brochure.

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You can also set-up social media accounts to generate potential enquiries. In Twitter, search for local businesses and ‘follow’ them, with the intention of them following you back. You can also do the same for LinkedIn and Facebook, and highlight relevant stories and articles, as well as your business. Including your phone number and website address across your social media accounts will make it really easy for prospective clients to contact you.

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It’s also possible to network with local businesses by using their services. If your printer needs new ink, rather than buying online, you could use a supplier down the road. Every interaction should be used as an opportunity to introduce your business and your services.

Adding value to potential clients

When building relationships with new clients, it’s important to demonstrate what they stand to gain. Simply selling an insurance policy is very transactional and not particularly compelling. You need to show you can supply the customer with a number of services that they might not get elsewhere. For instance, alongside the standard human capital risk assessment, you can also provide ‘surgery’ facilities for staff. This doesn’t have to be time consuming – just a couple of hours once a month, where staff can approach you about financial questions. Having an 'in-house' financial adviser could be quite attractive to a potential client and deliver additional business for you (staff seeking personal mortgage or protection advice).

Professional connections

Traditionally, advisers have focussed on establishing reciprocal relationships with accountants and solicitors. While these relationships can benefit advisers looking for business clients, the arrangements can be difficult to manage with complex regulatory requirements and potentially unrealistic remuneration expectations.

Advisers could consider building relationships with the other types of businesses that have a lucrative client bank, including:

  • HR businesses
  • Recruitment firms
  • Management consultancies with clients who could benefit from appropriate human capital risk management support

0800 032 3962

TextDirect: first dial 18001

Business Protection Specialist Team

Option 1 – New and current applications

Option 2 – Underwriting

Option 3 - New agency set up and login queries

Option 4 - Business Protection sales team and quotes

Options 1-3, 8.30am - 6.30pm Mon - Fri

Option 4, 9:00am - 5:00pm Mon - Fri

We will record and/or monitor calls for training and audit purposes.

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Business Protection options

Find out more about the type of businesses we cover and the policies available.

More about our Business Protection options

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Calculators and tools

See all our business protection calculators available to simplify your client conversations.

Our Business Protection calculators

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LV= Business Care

Our Business Protection includes valuable telephone support for your clients and their employees.

LV= Business Care

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Business Protection support team

Our team will make sure that all your Business Protection applications are dealt with quickly and efficiently.

More about our business support team

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LV=, County Gates, Bournemouth, BH1 2NF, UK