SSP opens the door to non-standard risk cover
SSP, a leading global provider of insurance technology, has partnered with Prestige Underwriting Services Limited to enable members of the SSP Keychoice broker network to meet rising insurance demand from non-standard construction homeowners.
SSP Keychoice was set up with the specific aim of helping independent brokers and intermediaries to compete more successfully, with improved access to the market enabling them to better support their customer base. This partnership means Keychoice members now have access to Coverall, a flagship product of Prestige, which makes it easier for brokers to process non-standard risks that they might otherwise have walked away from.
There are 1.5 million non-standard construction homes across the UK that present an opportunity, but also a challenge, for brokers due to their increased risk and complexity. SSP’s Coverall Keychoice Household product provides extensive coverage for these buildings, including those with an adverse claims history, high risk occupation or extended unoccupancy, or that are listed, converted, affected by subsidence and flooding, or linked to individuals with criminal convictions.
As Prestige has specialised in this area for over 15 years, Keychoice members can benefit from the comprehensive experience of underwriters with extensive knowledge of the risks involved. Its full cycle electronic data interchange (EDI) offering also provides access to a dedicated claims team and 24-hour notification line, with the ability to confirm cover and make rapid claims decisions, including settlement on the first call.
Jonathan Davey, Managing Director, Keychoice and Corporate Partners, said: “Our members can now offer their customers cover against a whole range of perils, such as subsidence and flooding, as well as for a greater variety of building structures, while benefitting from enhanced covers and bespoke rating with exclusive discounts.”
Gillian King, Property Underwriting Director at Prestige said: “Partnering with SSP’s Keychoice network broadens our distribution reach to homeowners via the intermediated channel. Due to the proven track record of Keychoice members in delivering good quality, profitable business, this is a fantastic opportunity for us.”