Plum targets mid-net-worth market with Amethyst

Household specialist launches new product with capacity from Lloyd’s.

Plum Underwriting has unveiled a new mid net worth home insurance product designed to help brokers retain existing clients within the home insurance niche.

The product, called Amethyst, is a worldwide all risks policy with capacity from Lloyd’s and has been designed incorporating feedback from Plum’s supporting brokers.

Plum Underwriting managing director David Whitaker said: “At a time when home insurance is increasingly seen as a packaged, system driven and machine rated commodity, we remain committed to supporting UK brokers and to helping them to address this lucrative segment of the personal lines market. Amethyst offers a compelling proposition for both them and their MNW clients.”

He added: “Amethyst is a modern, competitive, true MNW product that addresses what has previously been an important gap in our product offering. As such, it is far more than just an updated version of our previous MNW product. It represents a step-change with significantly fewer limitations, much higher policy limits and new automatic cover extensions. Amethyst has been carefully designed and priced so that it will meet the expectations of our brokers and their most demanding private clients.”