Covéa Insurance launches new online product for Property Owners

Covéa Insurance is pleased to announce the launch of a new online product ‘Property Owners’ for residential and commercial property owners. Designed to be sold online by brokers, the new product sets itself apart by incorporating the best elements of the existing Covéa residential property owners, commercial property owners and packaged executive asset products, but in a single all risks policy wording, with wider risk appetite, broader cover and higher limits.

This is the latest addition to the company’s small business proposition for brokers, and follows on from the launch of its Packaged Retail and Salons product in August this year.

Property Owners has just launched through both Acturis and the Covéa Insurance Online extranet, with both platforms offering functionality for brokers to vary commission and premium levels. Online trading will be supported by a guaranteed thirty minute referral response provided by the dedicated Covéa Insurance small business trading team, with “world class” post-sale service provided by its Institute of Customer Service accredited underwriting services team.

The newly launched, electronically traded Covéa Insurance Property Owners product caters for both residential and commercial property owners in a single’ all-risks’ policy wording. It covers landlords with properties at up to 10 locations and some of the ‘standard’ covers include Property Owners Liability, Equipment Breakdown and Loss of Rent (residential contracts) and Buildings.

Speaking about the new online product, Covéa Insurance Small Business Underwriting Manager, Sid Gulati, said:

“We’ve listened to what brokers have told us they and their customers want and designed our product and service to meet their needs. We continue to implement changes on and offline that will ensure our brokers can access the most competitive and up to date electronically traded products, supported by skilled trading underwriters who can make fast decisions on referrals to help them trade with us.”

“In an increasingly competitive market, the addition of this new Property Owners product combined with a strong service level will further strengthen our small business proposition, and offer additional growth opportunities for us and our brokers.”

-Ends-

About Covéa Insurance

Covéa Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa (which includes the global reinsurer PartnerRe since July 2022). 

Covéa Insurance looks after the insurance needs of UK customers, across a range of product lines; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa.  

Covéa Insurance has a strong people and service ethos and holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business. Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber. In 2022 Covéa Insurance was named Insurer of the Year at the British Claims Awards and Personal Lines Insurer of the Year at the Insurance Times Awards.