Hidden treasure.
The number of people eligible for high net worth insurance is rising, but brokers should look beyond traditional guises if they want a larger share of the market, says Simon Threadgold.
Insurer Hiscox estimates that there are about 825,000 people in thehigh net worth bracket. Very desirable as clients, but where do you find
them? There are many ways into the market, with the obvious place for
brokers to start looking being their existing client bank. Clients may
have got rich slowly without it being noticed.
As people progress they become wealthier through inheritance, share
options, salary rises, redundancy payments, conversion of mutuals into
plcs, or simply by investing wisely
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