Specialist broker Practice Cover has joined forces with niche commercial insurer Peach Pi to enhance its surgery book of business.
The partnership was established to create a bespoke scheme tailored to the specific protection needs of its surgery clients.
Peach Pi, a trading style of NPA Insurance, was established in 2020 to leverage its expertise in community pharmacy and extend its reach to a broader health and wellbeing market through selected broker partners. NPA Insurance is owned by The National Pharmacy Association (NPA).
The Practice Cover surgery scheme will carry the NPA Insurance branding to reflect the product’s pharmacy underwriting heritage. This understanding of the unique needs of surgeries and other allied health professionals was a key factor in Practice Cover’s decision to partner with Peach Pi.
Practice Cover managing director Natasha Hardy (pictured above, left) recognised the need to evolve and improve the existing solution into a more bespoke offering than what was available via the current insurer on an open market online Surgery product.
“I have been looking for a long-term partner I felt we could work with to develop and grow our Surgery book and price it as a ring-fenced specialist portfolio. I was impressed with Peach Pi’s approach to reviewing our existing product and building a bespoke surgery scheme,” Hardy said.
“I have aspirations to grow this area of the business with the right partner. I’m confident that the partner for Practice Cover is Peach Pi - it has both the capacity and the passion to help create a superior insurance solution and realise my vision for the business,” she said.
Peach Pi has been working closely with Practice Cover to enhance the existing product and create a bespoke scheme. The new product includes additional covers, new cover and limit options, and a new modular policy wording.
Moving forward, Practice Cover will utilise Peach Pi’s rating model, having developed its own online quote and bind tool, thus eliminating its previous reliance on an existing e-trading platform.
Ryan Bendelow (pictured above, right), head of commercial trading and distribution at Peach Pi, highlighted what the collaboration means for both companies.
“We’ve worked very closely with Natasha and her team, together with Practice Cover’s third-party software partner of choice, to build a scheme which will meet the needs of Practice Cover’s surgery clients – both now and in the future. That’s entailed several office visits and studying the required framework for a great surgery product and emulating those standards,” Bendelow said.
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