Covéa Insurance strengthens its home insurance proposition with Profile re-launch

Covéa Insurance is pleased to announce it has upgraded its Home Profile product to strengthen its competitive position in the personal lines home insurance market. The upgrade includes a range of policy cover enhancements which have been wrapped up in newly designed policy documentation, applying the principles of behavioural economics, making the cover simpler to understand and more ‘digestible’ to customers.

The company is making the changes to build on the product’s existing strong foundations with the intention of making it even more attractive, both to brokers and customers. New policy covers have been added and include fatal accident, loss of keys (on Buildings Cover), and loss of or damage to plants in the garden. Cover limits for alternative accommodation, money away from the home, and theft from outbuildings have also all been increased.

Profile is the latest Covéa Insurance product to be revamped as part of a companywide initiative to enhance the customer experience. The insurer’s Private Car product has also recently been re-launched, using the principles of behavioural economics, ensuring its policy presentation and documents are focussed on customer need.

Sue Coffey, Director of Intermediated Distribution, Personal Lines commented:

“We have listened to our brokers and customers in making these improvements to the cover, and the look and feel, of our home policy wording. We believe the way forward is to communicate with customers in a way that’s relevant and meaningful to them; to help them make informed decisions about their insurance. With this in mind, the newly designed Profile product is clear and concise, easy to navigate and simple to understand, as well as being competitively positioned in the market.”

-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.