Gallagher aims to remove insurance ‘barriers’ for students

Gallagher UK has removed “as many barriers as possible” to make cover easy to understand for students that “may not have much experience with insurance”.

That was according to David Birch, managing director of SME and partnerships at Gallagher, who spoke to Insurance Times after Gallagher UK launched a new property and contents product to enhance cover for student accommodation providers and their residents last month (24 August 2023).

The policy, named Student Assist, will offer accommodation providers protection against damage to their properties and personal belongings insurance to residents.

The product has been designed to be bought by providers, who then pass it to their student residents as part of an all-inclusive offering.

Birch told Insurance Times: “We removed as many barriers as possible to make our cover easy to understand, which is particularly important for students who may not have much experience with insurance.

“As part of the solution, we give all customers the option to add their cover details to their digital wallets, acting as a hub for their insurance needs.

“Providing a space for quick and easy access to their policy makes making a claim or building on cover as accessible, easy and intuitive as possible.”

‘Reflects needs’

Gallagher’s move followed after the most recent annual Student Money Survey, published in 2022, revealed that 82% of students said that they were worried about making ends meet.

Gallagher said that insurance was likely to be low on the list of priorities for students, leaving them exposed to the cost of having to replace belongings if they were damaged or stolen.

“The cover, [therefore], has been designed to reflect the needs of today’s students, with a self-service portal to manage their policy in one place with on-demand support to help students with any queries they may have,” Birch added.

“Student assist helps university and student housing providers remove the cost and access barriers through making insurance more accessible to their students whilst improving the student experience and overall wellbeing.”