Prestige Underwriting launch Coverall Non-Standard IHP with Flood Re capability on CDL

Prestige Underwriting have relaunched Coverall with three core enhancements including IHP functionality, Flood Re capability and LexisNexis data enrichment.  The product upgrade on CDL is the first in a series of developments across multiple software houses that will offer increased functionality, enhanced rating technology and efficient access to Flood insurance solutions.  

This latest offering enhances the wide-reaching non-standard underwriting footprint Prestige Underwriting is well known for and importantly delivers value to the overall Coverall proposition for the MGA’s broker partner and their customers.

Tim Baxter, Head of Broker Development noted:

“At Prestige Underwriting, we are well aware of the expectation on MGA’s to lead the way when it comes to agility and innovation in the design and delivery solutions.  The evolution of our non-standard home and motor proposition and the partnerships we cherish remains pivotal to the success of the model.  The experience within our team and the underwriting footprint we boast are well established and remain focussed on the non-standard aspect of motor and home.   We do believe however there will always be ways of enhancing the trading experience and client journey, it is therefore important to support continued investment in our proposition.”

We are delighted to roll out our established offering with Insurer Hosted Pricing. Being able to react to market conditions and adapt product acceptance is increasingly important and Insurer Hosted Pricing gives us the ability to make adjustments, instantly providing increased agility and flexibility.  Extending the accessibility of Flood Re beyond our Covernet Portal is of huge importance and we are very pleased to include this capability within this latest update.  

Sam Dansey, Head of Operations & Market Relations at Flood Re noted:

“The broker market is a key focus for Flood Re and I’m delighted that Prestige Underwriting is supporting this focus by launching its new product on the CDL platform, which will give brokers and customers even more choice of affordable and quality flood insurance though this channel.  Full automation of Flood Re’s eligibility in this product not only increases availability, but also removes the need for referrals, making cover more available with less fuss.”

Prestige Underwriting’s Tim Baxter continued:

“IHP is increasingly recognised by Insurers - and in particular MGA’s - as the solution for providing a more responsive approach to market in tailoring support given in niche areas across personal lines channels and to specific risk scenarios.  Targeting key areas of opportunity through rating and risk selection rules using IHP increases efficiency significantly and in turn ensures that the customer is receiving a flexible and competitive rate for the cover they need. We are well accustomed to the benefits that IHP and Flood Re bring but bringing the two together is hugely exciting and we are very pleased to offer our refreshed solution to the CDL community.”

With a steadfast commitment from Prestige Underwriting to deliver for all its Brokers, development work is underway on the OGI platform to integrate a series of enhancements including Flood Re, RTE, LexisNexis enrichment and notional rating.  It is anticipated this enhanced Coverall product will be available to OGI Brokers in Q1 2022.

Authored by Prestige Underwriting