Open and Direct making impact for partners with non-standard home
Three months since launch, Open & Direct is delighted to be making an impact for its partners, including Tesco Bank, recording conversion (+40%) and quotability results (98%) tracking above target for the first trading quarter.
Earlier last year, the team behind Open & Direct identified a gap in the market and established a partnership hand off proposition which would support banks, building societies and other insurance providers by supporting them with their non-standard Home business.
Led by a team of insurance advisors with strong non-standard household experience, Open & Direct provides a solution for partners who cannot write non-standard risks, offering a solution for their customer base which otherwise would be lost to the competitive market.
Part of the Prestige Insurance Holdings Group, Open & Direct’s product – Coverall - is designed especially for customers who have difficulty securing cover for their property. Underwritten by Prestige Underwriting, long established specialists in the UK non-standard market, and backed by A-rated capacity with Aviva, Coverall boasts many attractive embedded features including specialist claims assistance cover and Flood Re.
Open & Direct offers a seamless transfer of customer transactions via multi-channel touchpoints from online to call centre channels, providing an end-to-end service for the customer who can avail of the extended cover options with the Coverall non-standard product.
Partnerships, agility and the ability to create bespoke insurance solutions is at the core of what the Open & Direct team offer and 2024 is shaping up to be a great year with more partnerships due to go live in coming months.
Authored by Prestige Underwriting
About Prestige Underwriting
Long established and highly trusted across the UK and Ireland for developing non-standard and niche insurance products, we enable brokers and partners of diverse size and scale to compete in a highly dynamic marketplace.
Our 130-strong team-work in partnership with around 1,300 brokers and partners with the aim of not only meeting their needs but, wherever possible, exceeding their expectations.
At Prestige Underwriting we take a partnership approach to understanding what our clients' needs are and they find that we are expert and agile specialists in what we offer. We are efficient, flexible and approachable which gives us an advantage and edge to ensure we always deliver for our partners.
Our professional, customer centric, agile and flexible approach to developing, delivering and continually enhancing our products and service offering has been key to securing and maintaining longstanding relationships with our Broker network since 1997.