.jpg)
Independent commercial broker First Insurance Solutions has revealed it has launched a commercial indemnity scheme for niche trades and contractors via an online quote-and-buy platform hosted by SchemeServe.
The broker said it is aiming to deliver £1.5 million in premium during year one of the new scheme, which offers “unique policy options,” allowing the cover to be tailored to the needs of different trades and making it more appropriate and more affordable as a result.
Aimed specifically at specialist contractors including drainage, air conditioning and refrigeration engineers, commercial cleaners and electrical contractors, the scheme provides the ability to add or remove cover for property, kit, tools, and equipment – which the broker says is unusual for a commercial indemnity policy. It also offers a range of other trade-specific specialist extensions which it says are not normally covered under standard commercial policies.
Martin Bell, managing director at First Insurance, said the scheme had got off to a “flying start” and that the amount of business which has gone through the platform in its first two months has demonstrated that the firm’s £1.5 million premium goal is achievable.
“The SchemeServe experience has been great at every stage, from initial discussions, onboarding and working with their Scheme Tailors, through to go-live, as well as the day to day help and guidance delivered by the team on their Obsessive Support Desk,” Bell went on to say. “We are now looking at other innovative ways we can work together, and I believe with SchemeServe we have a strong partner on our side that is invested in our continued success.”
John Price, COO of SchemeServe, described First Insurance as a “fantastic addition” to the SchemeServe family.
“This is a great new scheme, which shows real depth of knowledge and a true understanding of the work practices and activities of specialist contractors, as well as sound commercial insurance knowledge and expertise,” he said.
“Likewise it demonstrates the flexibility and scalability of the SchemeServe platform, and how our Scheme Tailors and Obsessive Support team work in partnership with our clients to build bespoke solutions for specialist needs. We have delivered a transformative solution that enhances the broker proposition and enriches the customer experience. It has been a pleasure playing a role in bringing this scheme to market.”
