Broker secures new deal with insurer to expand proposition

Specialist broker Practice Cover has partnered with niche commercial insurer Peach Pi to expand its surgery book of business.

Peach PI will help the broker grow its proposition through a new bespoke scheme, which is being built to meet the requirements of surgery clients.

It will contain added extra covers, new limit options and a new modular policy wording.

As part of the deal, Practice Cover will also use Peach Pi’s rating model, with it having created its own online quote and bind tool.

“I have been looking for a long-term partner I felt we could work with to develop and grow our surgery book and price it as a ring-fenced specialist portfolio,” Practice Cover managing director Natasha Hardy said.

“I was impressed with Peach Pi’s approach to reviewing our existing product and building a bespoke surgery scheme.

“I have aspirations to grow this area of the business with the right partner. I’m confident that the partner for Practice Cover is Peach Pi – it has both the capacity and the passion to help create a superior insurance solution and realise my vision for the business.”

Branding

Peach PI is a trading style of NPA Insurance, which is owned by The National Pharmacy Association.

The Practice Cover surgery scheme will carry the NPA Insurance branding “to reflect the product’s pharmacy underwriting heritage”, Peach PI said.

Ryan Bendelow, head of commercial trading and distribution at Peach Pi, added: “We’ve worked very closely with Natasha and her team, together with Practice Cover’s third-party software partner of choice, to build a scheme which will meet the needs of Practice Cover’s surgery clients – both now and in the future.

“That’s entailed several office visits and studying the required framework for a great surgery product and emulating those standards. Here at Peach Pi, we are not restrained by bureaucratic processes.”