Former Preferential team set up new insurer

Former Preferential Insurance founding directors Steve Nickerson and David Marshall have launched a new insurer specialising in personal accident cover.

Nickerson and Marshall sold Preferential to the Collinson Group in June 2009.

The duo’s new business, Novastris Insurance, will launch its first product this month - a personal accident policy for the self-employed and those working in higher risk trades and professions.

The product can be purchased online.

“Our research revealed that many self-employed people found it difficult to access an insurance policy online that will give them immediate protection,” Novastris director Nickerson said.

“This is particularly the case for those in higher risk trades and professions. And if they do find a service that they think is suitable, many professions are excluded or need to be ‘referred’, making it harder for them to purchase. The reality is, with busy lives, if something’s not easy to buy it gets forgotten or left until later, which might be too late.

“We are addressing this problem by giving self-employed workers access to a personal accident insurance policy that they can buy online and which automatically includes higher risk sectors. This means they have financial protection should they be unable to work for a period of time, plus it provides a monetary benefit for their family should the worst happen.”

Novastris plans to introduce a number of other protection products over the coming months, as well as develop white label affinity solutions for the broker market.

“Steve and I have the breadth and depth of experience financially, technically and operationally in the field of insurance,” Novastris director Marshall said. “Capitalising on more than 50 years’ collective experience and proven track record in the development, implementation and management of insurance schemes for banks, hotel groups, airlines and building societies, we are creating a range of solutions that we believe fill a gap in the market.

“We aim to provide innovative and well-priced solutions that give individuals and families vital financial protection and peace of mind.”