UK financial institution Virgin Cash has returned to the house insurance coverage market by a partnership with insurtech firm Uinsure.
The launch of latest residence and landlord insurance coverage comes after the corporate ceased providing residence insurance coverage merchandise in August 2021, as a part of a strategic assessment to deal with its core enterprise areas.
Uinsure, identified for connecting monetary intermediaries with UK insurers through a cloud-based platform, will allow Virgin Cash prospects to acquire a 5 Star Defaqto rated insurance coverage quote rapidly.
Based on the insurtech firm, prospects can get a quote by answering just a few easy questions together with their identify, date of delivery and postcode, in as little as 30 seconds.
The protection is designed to satisfy the precise wants of householders and landlords, offering as much as £1m in constructing cowl and £75,000 in contents cowl as normal.
Virgin Cash’s partnership with Uinsure is alleged to make sure aggressive pricing by a panel of insurers.
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured concerning the
distinctive
high quality of our Firm Profiles. Nonetheless, we wish you to take advantage of
useful
determination for your enterprise, so we provide a free pattern that you could obtain by
submitting the under kind
By GlobalData
The financial institution’s residence insurance coverage proposition features a dedication to low costs, that includes computerized rebroking at renewal to save lots of prospects effort and time.
Moreover, the providing guarantees a “clear” charge construction, with no expenses for coverage cancellations or mid-term changes.
The brand new residence insurance coverage product is accessible on-line, with phone help accessible for these with out web entry.
As per the announcement, Uinsure’s partnership additionally seeks to make sure that prospects obtain the bottom value from its panel of underwriters at every new enterprise or renewal quote, decreasing the necessity for patrons to match costs elsewhere.
Virgin Cash head of non-public banking Graeme Sands stated: “Virgin Cash’s progressive residence insurance coverage product affords a market-leading quote journey in as little as 30 seconds, aggressive pricing by a panel of insurers, computerized rebroking at renewal and a clear charge construction with no hidden charges.
“In collaboration with Uinsure, who will administer our residence insurance coverage product, we offer prospects with simplicity, high quality and transparency.”
Uinsure group managing director Martin Schulthiess stated: “Our expertise is constructed solely across the consumer – that means prospects can take pleasure in an insurance coverage journey that is freed from the complexities they could beforehand have struggled with.
“The Virgin model is among the most recognised globally, with a protracted historical past of pushing boundaries and innovating for the good thing about its prospects. That mind-set very a lot mirrors our personal means of working and we’re extraordinarily excited to start our partnership with Virgin Cash.”
Earlier this yr, Uinsure acquired an funding from Lloyds Improvement Capital, which the corporate said would assist improve its market share, discover new markets and develop its community of partnerships.
