e-Trade Commercial Combined; one month on

We've spoken to Eugene O'Callaghan, Acturis e-Trade Development
Manager, about how the launch of the new e-Trade Commercial
Combined Insurance product went in June.

picture of a rocket with the description one month on

How did the e-Trade Commercial Combined Insurance launch go?

It went fantastically well and was really well received by our brokers. It’s the first time we’ve held a virtual product launch, and it enabled us to engage with a large number of our brokers simultaneously and share lots of information about our product. Prior to the launch we’d been talking to many of our brokers, either face to face, over the phone or via the Commercial newsletter, and the launch was our chance to give them all the many compelling reasons why they should trade on this product.

How’s the month after the launch been?

Great! We have seen a surge in brokers ringing through to talk to us about referrals so that they can win business and place it with us. We’re increasing the number of brokers that have access to the product with more to still go live in August. Our Trading Underwriters have been securing a diverse range of business which is certainly keeping the team on their toes, but they love it as no two risks are the same!

The product is specifically designed to quote for manufacturing trades, wholesalers, administrative trades as well as retailers, where the latter don’t fit onto our other Packaged products. This means we can secure business that may otherwise go elsewhere.

Furthermore, as Contents is the only mandatory cover, brokers are finding we will quote for risks that other insurers won’t on e-trade. If for instance liabilities are covered elsewhere under a parent or global policy, we can exclude those on our product. This modular nature is really special and helping other brokers win business whilst still e-trading it.

Have there been any interesting trades that have been bound so far?

Yes! From plastic model manufacturers, sports & events hospitality specialists, to organic skincare manufacturers, couriers and recording studios. The combination of a modular product, with 15 sections of optional cover, means we can quote for much more than just traditional Commercial Combined business. As long as the risk is Contents led, we can look at tailoring the other covers to suit!

What’s the aim for e-Trade Commercial Combined Insurance for the next year?

We want to make our product the go-to e-Trade Commercial Combined product for our brokers. In order to be able to do this, we want to see as much business from them as possible, and to ask our brokers to refer business into our Trading Underwriters so we can discuss them and find ways to get them on cover.

We also have a programme of constant review underway, which utilises the great feedback our pilot brokers have shared with us. Refining the current referrals approach is the key area of focus to enable brokers to trade efficiently whilst ensuring we are targeting the right business at the right price for the customer.

Finally, is there anything you’d like to add?

Yes – we are open for business and our Trading Underwriters are really keen to speak to brokers. We offer premium and commission flex tools as well, which is just another way we can help brokers win business! We want brokers to push our boundaries and ask for our help; they can send a referral message during the quote process, call us on 0330 024 2505 or email etradeCCI@coveainsurance.co.uk

To find out more information on our e-Trade Commercial Combined product, click here.

 

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