Specialist property MGA inet3 has launched a Flood Re solution for non-standard homes, alongside a new learning hub for brokers. Speaking to
Insurance Business UK, chairman of inet3 Catherine Bell said the solution has been in the works for a very long time.
As well as being chairman of inet3, Bell is also on the board of the Managing General Agents Association and chairman of the MGAA membership benefits committee. She said these positions, and her work with BiBA, made her very aware of the demand among brokers for a Flood Re product for non-standard homes.
“I was very keen to help consumers via brokers, and because of the Government’s new signposting for consumers to brokers, which is something BiBA have been very active in,” Bell said. “It made perfect sense that as an MGA, supporting those brokers, that we needed to get our act together, be nimble and quick, and research how we could really make a difference and take part in that.”
One of the reasons inet3 has been able to quickly launch its own solution is the company’s internal software systems. By building software in house, Bell said the company did not have to get in the queue and wait for a software developer to do the work for them.
The new scheme is also accompanied by extensive updates to inet3’s learning hub to educate brokers about the new solution.
“The Learning Hub is the icing on the cake of our service delivery of added value to our broker partners, because it gives them access to a concise and clear message on the product for their whole organisation to understand how that can be offered to their clients,” said Bell.
Bell praised the work of Flood Re CEO Brendan McCafferty in handling a very difficult project.
“It’s been difficult by everyone’s own admission,” she said. “It was a little bit like holding a tiger by the tail at one point, because they were trying to put together an offer that would work financially.”
Bell said she hopes inet3’s new product will help many property owners who have found it virtually impossible to get insurance, to find cover.
The first to get access to the solution are Bluefin Network broker partners. Director of Bluefin Network Duncan Pagan said brokers who are reaching out to the right customers will benefit most from these changes.
“inet3 has worked very hard to be ready for Flood Re and I’m delighted that our partner brokers have access to their solutions and training materials,” said Pagan. “We are also very positive about their pipeline of future developments.”
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