Solution Underwriting has announced the launch of a new corporate travel policy aimed at brokers and their SME clients.
The new policy, underwritten by Lloyd’s, has been launched at three levels designed to meet the needs of small to medium sized clients.
“We are looking at small to medium sized organisations that have a need for corporate travel but are price sensitive and we have tailored our product accordingly,” Lane told Insurance Business
Both Lane and Solution Underwriting managing director, Rhys Mills
, have previous experience in the corporate travel market having worked extensively in the sector earlier in their careers.
The new Solution policy, which Lane said has been in the works for a prolonged period, will offer round-the-clock assistance from Solution Emergency Assist, supported by Customer Care.
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The cover will extend to pre-existing conditions with unlimited medical expenses for up to 24 months, financial collapse cover and private leisure travel for company directors.
The Silver and Gold level of cover are priced at $350 and $500 respectively and are based on up to 25 interstate and five overseas trips or 50 interstate and 10 overseas trips.
The Platinum coverage can be tailored to meet the needs of clients which Anita Lane, director of Solution Underwriting, said would separate the offering in a competitive market.
By aiming at SME clients, Lane noted that while the market is competitive, Solution will be able to carve out a profitable niche.
Currently, the cover is available through Lane who is the contact person for the product. However, at a later date, the product will be available online joining other products offered by the Melbourne-based underwriting agency.