Plum unveils aggressive growth plans

Non-standard household specialist Plum Underwriting has announced its intention to accelerate the growth of the business over the next two years.

Plum aims to double new business and grow its agency base in 2010 on the back of increased demand for its non-standard household product – Flex. Plum believes the opportunity for significant growth in 2010 and beyond exists partly because underwriting appetite for the majority of carriers is restricted to
standard risks.

To capitalise on existing demand Plum is looking to ramp up its open market partnerships with brokers. This complements its delegated underwriting authority facility for brokers that underwrite and issue documentation under a binder.

Plum Director David Whitaker said: “The time is definitely right to press our advantage in the nonstandard home market and a huge amount of effort will be poured into realising our ambitions. There is naturally a lot of interest from brokers in being able to provide cover for existing and new clients who do not fit the narrow ‘tick box’ underwriting criteria that the market is awash with. However there is a lack of market solutions for brokers with these risks and Plum’s aim is to help brokers to fill that gap for their clients, with the ultimate aim being for Plum to become the non-standard brand of choice in the market.”