Source partners with Prestige Underwriting as it rolls out first home product

Source Insurance has announced that Prestige Underwriting has joined its panel as the first underwriter of its new home insurance product, a statement released today (9 November 2023) said.

The product, called Source Home, is a common worded insurance proposition that Source said highlighted the beginning of its product and risk expansion.

According to Source, managing general agent (MGA) Prestige is the first “of many underwriters” for the product.

Carl Oakes, sales and marketing director at Source, said her firm had been working with Prestige over the last few months to make the move possible.

”It’s an exciting moment for us as we now bring this new product to the adviser market with a provider who has exceptional brand recognition and respect in the industry,” Oakes added.

”The new product focuses on enhancing choice, quotability and competitiveness at a time where consumers need this the most.

“The onboarding of Prestige Underwriting is part of a series of proposition enhancements, all designed to help partners seamlessly promote quality insurance products to customers and I’m looking forward to announcing further enhancements and partnerships over the coming months.”

’First of many’

Prestige specialises in non-standard property insurance, covering a range of risks across the UK.

Tim Baxter, head of broker development at the MGA, said: ”Our household proposition is unique in its design and risk appetite and we are very pleased to offer Source customers a solution that provides choice when it comes to cover requirements for extraordinary risks including occupancy status, construction and usage, to name a few.

”The launch of Prestige Underwriting onto the panel is testament to the collaboration and investment by both parties and we look forward to enjoying a long and mutually beneficial relationship.”