Insurer rolls out Flood Re offering for brokers

AXA is rolling out a Flood Re offering which will be available to brokers through software house CDL.

The insurer said the product which has already gone live with iGO4 will give brokers greater choice in how they access Flood Re.

The technology works by the CDL solution connecting to the Flood Re hub at point-of-quote. change of address and renewal.

This means an instant decision can be made on whether the customer can access a Flood Re policy.

Flood Re is designed to increase the availability of affordable flood cover and, to date, the number of insurance providers signed up to support the most at-risk households represents 90% of the home insurance market.

In the first six months after launch to 4 October 2016, Flood Re backed 53,000 home insurance policies across the UK.

AXA personal lines broker head of household and creditor Carolyn Scott said: “AXA was one of the first insurers to go live with Flood Re and since then have been able to secure cover for more than 1500 households at risk of flooding.

“I am delighted that our hard work to make Flood Re more accessible to brokers is now paying off as this new integrated solution will increase the options of accessing Flood Re for the thousands of at-risk customers who use a broker to insure their home.”

Flood Re head of client relationships Andrew Creedon said: “Flood Re has created a level playing field for new entrants and existing insurers in the UK home insurance market.

“We were impressed with CDL’s positive approach during the development of their solution, and are delighted that Flood Re-backed products are now available through their systems.”