Paymentshield, a general insurance solutions provider, has added two insurers – Ageas UK and Tradex Insurance – to its home insurance panel.
“Ageas UK and Tradex are large insurers with a strong understanding of the market and a wealth of claims knowledge and experience behind them,” said Joe Bishop, head of insurer relations at Paymentshield.
Ageas UK is a personal lines insurance company that provides 24/7 emergency helpline for its customers. Meanwhile, Tradex’s home insurance policies are underwritten through Markerstudy Insurance, which also handles the company’s claims.
Bishop said that insurers have to meet “carefully considered criteria” to join the panel in order to ensure that advisers can provide their customers with the best services.
“We’ve been working hard to preserve the robustness of our home insurance panel during a time of market volatility that has seen several insurers withdraw from the personal lines market,” Bishop said. “The strength and depth of our panel makes it easier for advisers to offer a home insurance quote to every customer, supporting in our ultimate mission to ensure every home is properly protected.”
Paymentshield said it is planning to further expand the panel early this year.
Ageas UK and Tradex have both expressed their excitement over the announcement.
Ben Travis, head of strategic accounts at Ageas UK, said that the company joins Paymentshield in its commitment to providing full protection to homeowners.
“At Ageas, we share Paymentshield’s dedication to ensuring every homeowner is fully protected and providing market-leading customer service where it matters to our customers,” he said.
Sid Gulati, chief underwriting officer at Tradex, said that the company will have the opportunity to expand its home offering to customers through Paymentshield’s network of advisers.
“We’re delighted to provide home protection and support more customers through our comprehensive range of products and services, adding to the coverage options on offer via Paymentshield,” Gulati added.
Paymentshield also announced that the majority of its panel is now operating on an Insurer Hosted Pricing (IHP) model, which allows for real-time pricing. The IHP model also integrates a range of various data points, including credit scoring and geographical checks.
