UK InsurTech broker offers new online service for commercial insurance
Press Release - by Simon Taylor
Insurance Direct Group Solutions Limited have launched their UK InsurTech broking services
The digital insurance broker can allow for UK companies with a turnover up to £100m to apply for and manage their commercial insurance online.
“It’s not surprising that in an increasingly digital world, customer’s expectations have changed. Our research identified that small-to-medium sized businesses want a simple, transparent and cost-effective service that can be delivered online.”
Quote & bind platforms
"With limited information requested during an application, restrictive conditions and pre-agreed rates are applied to manage the profitability of the book."
UK InsurTech broker
“At get indemnity we have stripped back the traditional insurance broking process and re-engineered online. Our agile insurtech solution connects a digital platform with human intervention, combining the efficiency of technology with the knowledge and experience of insurance professionals.
“Insurance underwriters are sent the data points with an electronic signature to undertake their own risk assessment and compete to offer the best terms to the customer. The information requested is detailed without making the application overly burdensome. However, customers are encouraged to provide additional information with respect to their controls and risk management to secure the most favourable terms.”
“At get indemnity we expect the insurance market will follow the banking industry and allow for better connectivity through API’s. Insurer’s legacy systems remain an obstacle, but the ability to capture and transfer detailed risk information creates efficiencies and provides underwriters with better data to price individual risks.”
A more connected and efficient UK insurance market
“As advocates of quality risk underwriting, we recognise the value insurers add in the distribution of tailored solutions. Reducing the administrative burden on both insurance brokers and underwriters means our customers can receive a better service at a more affordable cost.”
“We are currently working with a number of insurers to satisfy their underwriting requirements, however, due to the subjective nature of risk assessment and the scope of products that SME’s require, this will be a continual development process.”
"We believe our insurtech broker solution is the first that will lead to a more connected and efficient UK insurance market.”
As a digital insurance broker we can offer a wide range of commercial insurance solutions to UK domiciled companies. Please see below our InsurTech guides:
Get indemnity is a trading name of Insurance Direct Group Solutions Limited, authorised by the FCA under FRN 802038 (Financial Services Register). Registered office: The Dock London, Tobacco Quay, Wapping Lane, London E1W 2SF.