A new alliance between AXA
and CDL is expected to broaden the market base of the Flood Re solution for brokers through an open market software application, the companies said in a joint statement.
The new solution will go live with iGO4 and is expected to provide brokers with a wider choice in accessing Flood Re.
CDL’s solution connects to the Flood Re hub, enabling quotes, change of address and renewal, thus allowing real time decision making on whether a customer can access a Flood Re policy.
The central database, Flood Re, is designed to improve the availability of flood cover in its markets. To date, its insurance providers represent 90% of the home insurance market. Six months on from its launch, Flood Re had backed 53,000 home insurance policies across the UK.
“I am delighted that our hard work to make Flood Re more accessible to brokers is now paying off as this new integrated solution will increase the options of accessing Flood Re for the thousands of at-risk customers who use a broker to insure their home,” Carolyn Scott, head of household and creditor for AXA
’s personal lines broker business, said in a statement.
Nigel Phillips, CDL commercial director, added: “This development marks an important step towards ensuring that household insurance customers are better protected against flood losses. We have worked closely with our industry partners to support the roll-out of Flood Re, and are confident that this solution will enable more at-risk households to benefit from the scheme.”