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Solution Underwriting has announced the launch of a new online rater for its corporate travel product after a year of testing and design.
The firm launched the online offering last week and it is designed with brokers in mind, Anita Lane, director of Solution Underwriting, told Insurance Business.
“It is designed to create what we call a client quote so that even if your client is on the way to the airport and they have forgotten their travel [insurance], they can jump online at any time and it is full cycle,” Lane said. “Brokers can quote it, bind it, document and email it to them straight away.
“I think that is the benefit of it, I have had lots of brokers say that their clients only tell them at the very last minute that they are going abroad. That is how it is designed to work, it is a quick turnaround and you can use it to cross sell with other products that the client might have.”
The product can be sold in conjunction with Solutions PL and PI cover, boosting cross-sell capabilities as brokers can also benefit from a higher commission using the online tool with its DIY features.
Lane said the firm has been working on the offering for 12 months, following the launch of the corporate travel policy last year. The coverage through the online rater is split into three options with SME a particular focus, but the product can be tailored to fit all.
Coverage is also extended to director’s leisure travel, as well as staff add-on travel at the end of a business trip, as all policyholders are given access to global emergency assistance through Solution’s partnership with Customer Care.
“It is designed that way but priced depending on number of trips,” Lane said. “There is no terrorism exclusion on our cover in any products. We have no exclusions for financial collapse of airlines, tour operators or hotel groups and things like that, which is always a good thing.”
