Open GI adds Ocaso to growing commercial trading platform

Ocaso residential property owners insurance on Open GI

Open GI has today launched Ocaso Residential Property Owners on its commercial trading platform, Powerplace. 

The insurer has a strong position in the UK non-standard household insurance market, and strengthens Open GI’s insurer integrated commercial broking solution, especially with its specialism in let and unoccupied properties and holiday homes.

Ocaso offers highly flexible cover for landlords under its new Residential Let Plus policy, with a broad underwriting footprint which includes professionals, full-time students or benefit-assisted tenants.  Ocaso’s standalone Unoccupied Home policy and UK Holiday Home policy are also available through Open GI.

With strong growth in the UK commercial e-trading market over the last 6 years, Open GI’s commercial solution has thrived and continued to expand into key business lines, supporting almost 1,500 brokers in its drive for greater automation and cost savings.

“This latest launch on property owners grows our panel to 79 products available from 17 insurers and demonstrates our commitment to offering our brokers comprehensive product choice and levels of cover to help them meet a diverse set of clients’ needs. We will continue to grow the insurer panel and enrich platform functionality further during 2017 to support our broker partners on their digital trading journey”

Commenting on the new launch and Open GI’s commercial development plans David Kelly, Distribution Director said:

“Ocaso is delighted to announce the launch of its residential property owners’ insurance policies via the electronic trading system of Open GI, a leading expert in Personal and Commercial Lines systems. This will further enhance Ocaso’s strong position in the UK non-standard residential property owners’ insurance market, giving us access to a wide network of major insurance brokers who trade via Open GI as their e-trade system supplier of choice for residential property owners’ business”

Paul Costigan, Business Development Manager of Ocaso in the UK commented on the launch:

Notes to Editors:

Open GI is the leading technology partner to general insurance brokers in the UK and Irish markets. Its Core broking platform provides multi-line, multi-channel, multi-brand trading capability complemented by innovative ecommerce and mobile technologies. Open GI is part of the Open International Group alongside sister companies Open GI London and Open GI Ireland.

Ocaso S.A., Seguros y Reaseguros is a privately owned Spanish insurance company founded in 1920, which specialises in Personal Lines in Spain. Ocaso has been operating in the UK market since 1973, and has been writing Household insurance business in the UK since 1990. It is rated A (Excellent) for financial strength by A.M. Best Company, and had total written premiums in 2015 equal to £679,140,000. At 31.12.2015, it had a solvency margin of £748,652,000, (£629,448,000 in excess of the regulatory required minimum), and total financial and property investments equal to £1,962,767,000.