Detailed Information
Once you have Registered
Once we have verified your information, we will email you back a Broker ID and Password
This will allow you to access our site yourselves to get quotes and purchase policies
on behalf of your client NB this is an online-only facility, and payment is by credit
card only – please bear this in mind if purchasing cover on behalf of your client
You will also be able to manage your account, vary your commission rate (see below),
view previous quotes/policies, etc using this password.
In addition we will send you a link for you to upload onto your site : this will allow your customers to access your account to get quotes and purchase cover for themselves whilst still generating the same commission rate for yourselves
Customer Ownership
You retain ownership of the client. This means we will never contact your client
other than in the fulfilment of the short-term insurance transaction.
We understand the importance of this issue to you – as well as providing you with
a TOBA which reinforces your ownership, we have also taken the following steps to
protect your position with your client :
- We have removed all reference to Dayinsure.com from this Broker-version of our product
and from the documentation we send out
- We have reduced our commission yield, in comparison to our retail product, so that
the price to the customer of a Dayinsure Broker policy will not be much higher than
the price of a Dayinsure Retail policy. To clarify further, we would expect on average
the Retail policy to be around 10% cheaper than the Broker policy.
- We give you the option of reflecting your own branding across your account. This
means the customer will see your branding throughout the quote and buy process,
and on the documentation we send out.
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Commission
We have tried to balance the competing needs of providing you with market-leading
commission rates whilst at the same time ensuring competitive premiums for your
client.
When you first access our system your commission rate will be set to the following default levels:
The greater of a) a flat amount of £10 (for policies of 1, 2 or 3 days), £12 (for policies of 4 or 5 days), £15 (for policies of 6, 7 or 8 days) or £20 (for policies of 9 days or longer) OR b) 10%
However you have the capability to alter these levels upwards or downwards, with the price the customer pays varying accordingly.
You have the following options:
What Do You Want To Change Your Commission To?
a) A % commission rate irrespective of length of policy : if so, what %?
Eg. 10% per policy
b) A % commission rate dependant on length of policy : if so, what % for what days?
Eg. 15% for policies of less than 7 days, 12% for policies between 7 and 14 days,
10% for policies longer than 14 days.
c) A flat amount irrespective of length of policy : if so, how much £ per policy?
Eg. £10 per policy
d) A flat amount dependant on length of policy : if so, how much £ per policy for what days?
Eg. £5 per policy for policies of less than 3 days, £10 per policy for policies
of 4-6 days, £15 per policy for policies of more than 6 days
e) A combination of the above : the higher of an amount or a commission rate irrespective of length of policy : if so what amount, and what % rate?
Eg. The higher of £10 per policy or 10%
f) A combination of the above : the higher of an amount dependant on length of policy or a % commission rate : if so what amount, and what % rate?
Eg. The higher of a) £10 per policy for policies of less than 5 days or £15 per policy for policies of 5 days or more or b) 10%.
For any other combination please contact us at broker.support@dayinsure.com
Please note that whichever option you select your commission will not be visible to the client : please contact us if you would like this to be amended.
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Branding
Here are some examples of how our link will look
Unbranded
Branded
The link we initially send you will be unbranded, however if you are interested
in having your own branded version then please tick YES in the Do you require the
link to carry your own brand? question in the Registration section.
dayinsure.com limited are authorised and regulated by the Financial Services Authority. Our registration number is 304010. This can be checked on the FSA’s register by visiting the FSA’s website at www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
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