22nd September 2021
We are thrilled to announce we have entered into a new strategic partnership with Plum Underwriting and Verisk. Our new partnership will bring an enhanced home insurance offering to brokers.
The collaboration will combine underwriting, technology, and enrichment expertise to bring to market an enhanced home insurance offering for brokers. The first development centres around flood data and by utilising data enrichment, the initiative will identify unique property specific flood risks at point of quote to provide an immediate underwriting decision and price.
Describing the new partnership David Whitaker, MD of Plum Underwriting, said:
“We are delighted to engage in a strategic relationship with these forward-thinking brands. After listening to our brokers, we believe the collaboration is a perfect fit to drive forward an even wider specialist home insurance appetite and allow end consumers access to flood risk protection where it is needed most. We are looking forward to strengthening and developing our proposition further to drive forward Plum’s ongoing innovation centred around data and technology and are actively engaged in the delivery of the next phase of flood insurance solutions.”
Open GI’s Group CEO, Simon Badley, commented:
“This is a fantastic new partnership, engineered to drive forward innovation for the home insurance market. Our role at Open GI will be to support the new proposition with our IHP Plus application so we can add clear business value from start to finish. We look forward to this collaboration and aim to work together to reach a common goal of delivering a top-notch home offering for the market.”
Alex Croydon, Verisk’s Managing Director General Insurance UK, added:
“We are excited to work with Plum Underwriting and Open GI in delivering highly granular, address-level flood data in real time. It will provide home insurers with a more informed view of flood, giving them more confidence to underwrite risks they may have otherwise been hesitant to take on.”
