London, 6 May 2016: In a move to increase brokers' access to established non-standard property capacity on software house platforms, Plum Underwriting - the specialist and nonstandard household insurance MGA which is part of Global Risk Partners Limited (GRP) – has added its eLet and eFlex full cycle EDI products to SSP.
Plum’s eTrade operation – formed late last year - means brokers now have real choice and wider access to market-leading products. Plum is able to fill the gaps in established capacity for non-standard home insurance that brokers need on software houses.
Simon Lewer, eTrade Director at Plum, said: “With the small number of established providers in this space, and the lead in times to deliver specialist products to market, brokers are faced with few options when it comes to placing non-standard risks.
“We will continue to roll-out our e-enabled products to other leading software houses during
2016, making it easier for brokers to access quality products and established underwriting.”
Ron Atkinson, Head of Insurer Relationships, SSP, said, “I am delighted to welcome Plum Underwriting to the SSP insurer panel. The eLet and eFlex schemes are the type of competitive products we are focused on providing our customers with and we will continue to work with the industry to deliver the best products to help support our brokers”.
Plum’s eTrade products offer brokers competitively priced cover, guaranteed 'quotability' and low operational costs, together with the extended underwriting footprint common across all its products.
Brokers using SSP with Plum agencies have access to eFlex and eLet with immediate effect. eFlex provides specialist and non-standard household buildings, contents and valuables cover, and eLet is for UK residential landlords who own either individual properties or large portfolios and covers buildings and contents for a wide range of tenancy types.
For further information please contact:
Alex Wise, Concise PR
M: 07710 665 615
T: 020 7100 3960
Francesca Breeze, Concise PR
M: 07710 963 838
T: 020 7100 3960
Notes to editors
Plum Underwriting Limited is a London-based underwriting agency providing specialist solutions for the UK and Republic of Ireland home insurance market through brokers.
In addition to partnering brokers on an ‘open market’ basis, where it quotes, underwrites and issues documentation, Plum also issues delegated authorities to insurance providers allowing them to white label their products and control the client experience.
Plum’s eTrade Division is focused on expanding the company’s electronic placement strategy for brokers through the e-enablement of non-standard and specialist home products via software houses, brokers own systems and other third party platforms. Products are offered as full cycle EDI solutions via major software houses with brokers benefiting from high quote rates and low operational cost whilst still having the ability to access Plum’s underwriting support for more complex risks.
Plum Underwriting Limited is authorised and regulated by the Financial Conduct Authority.
Global Risk Partners Limited (GRP) is an investment vehicle aimed at brokers and managing general agents (MGAs) trading in the UK retail and global, specialty insurance markets.
It was established in 2013 by Peter Cullum, Chairman of GRP and David Margrett, Chief Executive of GRP, who was previously President of Willis Global and Chairman and CEO of Willis Limited. GRP is backed by private equity firm Penta Capital LLP.
Global Risk Partners acquires businesses and teams that have niche, non-commoditised, specialty propositions and strong profitability.