Covéa Insurance Launches New Packaged Retail and Salons product

17th August

Covéa Insurance is pleased to announce the launch of a new packaged product aimed at retail & salons as part of their small business proposition, Covéa Insurance Online. Designed to be sold online by brokers, the new product sets itself apart by incorporating the best elements of the existing shops and salon products, but with a broader risk appetite, new covers and higher limits.

Packaged Retail & Salons was launched through both Acturis and the company’s broker extranet on 15th August 2016, with both platforms offering functionality for brokers to vary commission and premiums. 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.

Packaged Retail & Salons is the first of three new online products for small businesses that Covéa Insurance plans to launch in the coming months, as it delivers on its commitment to upgrade its online broker proposition.

Tim Grant, Head of Small Business comments:

“We’ve listened to what brokers have told us they want and designed our product and service to meet their needs. We’ve reviewed all aspects of our online broker proposition and are now implementing changes on and offline that will ensure our brokers can access the most competitive and up to date electronically traded products, supported by skilled underwriters who can make fast decisions on referrals to help them trade with us.

 “With Packaged Retail & Salons, we’ve taken the strengths of both the existing Covéa Insurance and ex Sterling products to create a highly competitive product in the operating market sector. It’s a genuine best of both for our brokers and customers.”

 

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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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