- Pricing and telematics lead the charge as insurtech patents jump 40pc
- FCA puts general insurance pricing practices under review
- Volvo and Baidu reach agreement to produce autonomous vehicles
- Cyber and D&O exposures increasingly intertwined, Airmic report finds
- Arch selects Touchstone for cat risk modelling
RSA expands SME book through online platform
Written by staff reporter
RSA has expanded its SME book with the launch of an e-traded Business Combined product. Available via RSA Online and the Acturis platform, the new product comes with a range of features to enable brokers to tailor cover for business customers across a range of risks and sectors including manufacturing, wholesaling, supplying, retail, administration and leisure.
The product, which enables brokers to quote and bind business entirely online, is backed up by a dedicated underwriting team that can be contacted by phone, email or the ‘refer to underwriter’ option on the quote screen.
The launch follows a six-month pilot of the product, which has increased eligibility rates compared to RSA’s previous Small Businesses Combined product.
The product can trade up to £20m material damage / business interruption limit per premises with no turnover limit. New additional features include terrorism cover, North American exposures, floating stock for contents, stock and computer equipment, as well as cover for stock at third-party premises. On RSA Online the product also has a trade selection feature to reduce the time spent searching for the correct trade.
Celia Kemp, SME, schemes & deals underwriting leader at RSA, said: “We are delighted to launch our Business Combined product and to have received such positive early feedback from brokers. The product has been designed to meet brokers’ calls for a more intuitive and streamlined e-traded offering. That said, we have not scrimped on important policy detail and in-built flexibility. We have ensured brokers can easily reach RSA's e-traded team throughout the process if they have questions or concerns regarding underwriting or risk management.”
“This represents the next generation of e-traded products for RSA, developed in partnership with Acturis to ensure the enhanced features and functionality reach the wider broking market,"