Property finance distributor Brightstar Group has launched insurance brokerage Solstar, offering a referral service for brokers and advice direct to clients.
Solstar will work on behalf of property owners and businesses to negotiate the prices and cover with a large panel of insurance firms.
The service offers a range of products covering buy-to-let houses, houses in multiple occupation, commercial shops with upper parts, industrial units, pubs, hotels, development sites, latent defects, and premium bonds, among others.
Alongside Brightstar Financial and Sirius Property Finance, Solstar will be operating as part of the Brightstar Group, which posted record financial results last year.
“This new insurance offering from the Brightstar Group has the potential to help brokers and their clients in a number of ways,” Solomon Tzouvanni, head of insurance at Solstar Insurance Brokers, commented.
Often, insurance is the last thing a broker considers with a deal, and this can lead to delays and the client paying more than they need to. With our service, a client’s details can be referred to an expert at the outset, enabling us to negotiate the best terms available from the markets.
“Not only can this result in a better outcome for the customer, but it can also prevent delays and reward the broker with an additional source of income. Over time, this income from insurance referrals can deliver embedded value for broker businesses.”
Rob Jupp (pictured), chief executive at the Brightstar Group, said the launch of the insurance brokerage reflects the group’s strategic objective to provide a more holistic solution for clients and partners than property debt alone.
“With the upcoming introduction of Consumer Duty regulations, there will be greater emphasis on all brokers to take a more holistic approach to advising their customers,” Jupp added. “Solstar provides the option for them to do this by leveraging our expertise, and this will benefit their clients as well as their business.”
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