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One of the main benefits to brokers of our new GI platform is the ability to quote for more risks, online, without the need for lengthy referrals or hand-offs to other companies to quote.
Whilst non-standard risks may still be seen as an unknown area by some, there is a considerable amount of GI business being pushed into this category by underwriters.
Source brokers, and in turn their clients, are already benefiting from the increased ability to offer not only a competitive quote but also on many occasions, a choice of cover options for hard to place risks.
Actual examples of risks placed so far have been:
- Properties where the property is unoccupied and undergoing renovation
- The property suffered previous subsidence and has been underpinned. Traditionally a difficult risk to place, however due to a certificate of adequacy, a policy was offered without the need for a referral or additional structural survey reports etc.
- Enhanced personal possessions cover
- A Bankruptcy risk
- Regular business use at home risk
- Non-standard construction
These risks have all been placed at premiums that were competitive against client budgets and at the full commission rates for the broker.
If you want to see how The Source can convert more of your GI opportunities take a quick look here.
