UK General teams up with Gibraltar-based firm for new product
A non-standard motor scheme for brokers was launched at the Biba conference by UK General Insurance and partners Gibraltar-based firm Enterprise Insurance Company.
UK General motor schemes director Martin Kennedy said “non-standard” was one of the few bright spots in an otherwise flat private motor market and was a great opportunity for brokers looking to write scheme-driven motor business.
“Price comparison sites are not sufficiently geared to support the large pool of non-standard customers and brokers have a great opportunity to help these customers find the specialist cover they need,” he said. “We’re here, alongside Enterprise, to support these Intermediaries.”
Kennedy said UK General would develop each scheme on a bespoke basis with the broker partner. The company was already working with brokers to place up to £3m groww written premium of non-standard business, with more in the pipeline.
“Feedback from our brokers has been really positive,” he said. “Although motor rates have flattened in recent months, since 2009, premiums have soared by 35%, and unsurprisingly drivers who have been hardest hit are those who are not ‘standard risks.”
Initially, UK General and Enterprise would provide facilities to write drivers with conviction records that move them outside the main stream market. Other schemes UK General aimed to bring to market were targeting young or elderly drivers, people with modified cars, and drivers of commercial vehicles.
No comments yet