Covéa Insurance launches new online product for Property Owners

12th December

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.”

 

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About Covéa Insurance

Covea Insurance plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France and served 11.5 million policyholders, generating over 16.4 billion Euros in premiums in 2016.  

Covéa Insurance handles the insurance needs of 1.5 million policyholders; delivering financial reassurance through its Standard & Poor’s A+ stable rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, mid and high net worth insurance and a range of commercial insurance products, designed to meet the needs of most individuals and businesses. Employing over 1500 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and featuring in the 2015 and 2016 Sunday Times Top 100 Mid-sized Best Companies to Work For. It also has World Class service accreditation from the Institute of Customer Service for its Motor Claims, Home Claims and Underwriting Services teams as well as Chartered Insurer status for its Commercial and Mid/High Net Worth business.

In January 2016, Sterling Insurance Company Limited became a fully integrated part of Covea Insurance Plc, following a Part VII transfer under the Financial Services and Markets Act. 

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