Spettro franchisees supported by the insurance sector
At Spettro, we have collated some industry facts and figures to demonstrate how the franchise business is supported by the insurance sector.
The Council of Mortgage Lenders publish figures annually stating the total amount of mortgages in the UK including Northern Ireland. For 2007 70% of the population are recorded to have mortgages relating to home or business properties. The British population is approximately 60 million, which represents about 42 million homes or business properties with mortgages assigned to them. Anyone with a mortgage is obliged to have Buildings Insurance Cover in force on their properties by the mortgage provider to protect their financial interests. This mandatory requirement clearly creates a vast non-discretionary market and this, in turn, provides business for our Spettro franchisees as insurance claims are recorded.
The Association of British Insurers publish figures annually stating the total amount paid out by their members on buildings insurance claims nationally (published in October for the previous year). In 2006/07 these figures state that £18.3 million per day was paid out on both private and commercial properties. In 2005/6, insurers paid out £14.8 million per day, showing an increase over the last 2-year period of 23.60%!! This increased figure is primarily attributable to the devastating floods that occurred in Summer 2007 in Doncaster, Hull in the East, Oxfordshire in the West and the surrounding areas. In excess of 68,000 additional claims were registered last year pertaining to the flooding, resulting in an additional £2.7 billion being paid out on repairing insured properties in those flooded areas.
Spettro’s business and franchise network continues to grow despite fears of recession with 23 territories across the UK plus the central office running 2 additional territories. Spettro helps home and business owners deal with property insurance claims and the repairs associated with flood, fire, storm, impact damage and burglaries. The business is regulated by the Financial Services Authority (FSA) which allows them to mediate with all the major insurance companies.
This information will assist in making an informed decision regarding the great business opportunity that avails itself in purchasing a Spettro Franchise area. If there is any further information that you may require, please do not hesitate to contact the Directors of Spettro for further clarification, where we will only be too happy to assist you with your questions. Call 0800 389 2251 or email lynn@spettro.net
The Council of Mortgage Lenders publish figures annually stating the total amount of mortgages in the UK including Northern Ireland. For 2007 70% of the population are recorded to have mortgages relating to home or business properties. The British population is approximately 60 million, which represents about 42 million homes or business properties with mortgages assigned to them. Anyone with a mortgage is obliged to have Buildings Insurance Cover in force on their properties by the mortgage provider to protect their financial interests. This mandatory requirement clearly creates a vast non-discretionary market and this, in turn, provides business for our Spettro franchisees as insurance claims are recorded.
The Association of British Insurers publish figures annually stating the total amount paid out by their members on buildings insurance claims nationally (published in October for the previous year). In 2006/07 these figures state that £18.3 million per day was paid out on both private and commercial properties. In 2005/6, insurers paid out £14.8 million per day, showing an increase over the last 2-year period of 23.60%!! This increased figure is primarily attributable to the devastating floods that occurred in Summer 2007 in Doncaster, Hull in the East, Oxfordshire in the West and the surrounding areas. In excess of 68,000 additional claims were registered last year pertaining to the flooding, resulting in an additional £2.7 billion being paid out on repairing insured properties in those flooded areas.
Spettro’s business and franchise network continues to grow despite fears of recession with 23 territories across the UK plus the central office running 2 additional territories. Spettro helps home and business owners deal with property insurance claims and the repairs associated with flood, fire, storm, impact damage and burglaries. The business is regulated by the Financial Services Authority (FSA) which allows them to mediate with all the major insurance companies.
This information will assist in making an informed decision regarding the great business opportunity that avails itself in purchasing a Spettro Franchise area. If there is any further information that you may require, please do not hesitate to contact the Directors of Spettro for further clarification, where we will only be too happy to assist you with your questions. Call 0800 389 2251 or email lynn@spettro.net