Norwich Union has launched a number of new enhancements and exclusive offers for brokers who trade household business via the company’s e-broking website ( www.norwichunion.com/ebroking [http://www.norwichunion.com/ebroking]).
Norwich Union has launched a number of new enhancements and exclusive offers for brokers who trade household business via the company’s e-broking website (www.norwichunion.com/ebroking).
More competitive premiums, long-term renewal pricing and advanced underwriting capability have been added to the company’s e-services offer.
For brokers who commit to placing volumes of household business exclusively to Norwich Union online, the company has launched a service called ‘exclusive’ that includes an enhanced product offering. Your House and Home Plus policy customers can choose from a free home and garden package, a free sports package, or a 20% travel discount.
The company has also introduced a new pricing approach, rewarding brokers who trade household products via e-services with some of the most competitive rates on the market. On average, Norwich Union will quote within Ł20 of the most competitive price in the market for contents cover and within Ł40 of the best price on buildings insurance.
Norwich Union is guaranteeing long-term renewal pricing stability for online household policies. Customers with no claims will benefit from fixed-rate renewal increases for two years followed by an increase of claims inflation only, reassuring them that they won't need to shop around every year for a better quotation. By improving customer retention, the initiative has been designed to allow brokers to concentrate on gaining new clients rather than re-broking their existing clients’ policies for a suitable renewal price.
e-services has also been linked into Norwich Union's most advanced rating system which can underwrite risks down to address level, including the company’s digital flood mapping data. The advanced capability results in fewer system referrals to save administration time, as well as providing the most accurate price to reflect the true risk.
Michele Whittaker, e-broking manager at Norwich Union, said: "e-services is a highly efficient way to do business saving valuable time, reducing administration costs and helping to provide a better class of service to customers.
"In a regulated marketplace, where brokers will be expected to deliver good advice, e-services exclusive allows brokers to offer the right product to their customers. By guaranteeing a highly competitive rate, the new approach will reduce the need for brokers to spend time searching the market, helping to increase their acquisition rates and grow their business.
"Having listened to broker feedback, we know that competitive pricing and free add-ons really make a difference. We wanted to pass administrative cost savings onto our broker partners and customers as well as reward forward-thinking brokers who are committed to placing a book of household business with us online."
Brokers can also build up points and exclusive prizes through the Choices online incentive programme for household business or additional covers sold via e-services.
Norwich Union’s e-services offer is an online policy administration system for non full-cycle personal lines business including household, private motor, van and motorcycle cover.
-ends-
For further information, please contact:
Debbie Wells at Staniforth on 0161 274 0100 or Jenny Chapman at Norwich Union on 08703 66 68 64/07775 822642
Notes to editors
- Norwich Union is the UK's largest insurer with a market share of around 14 per cent
- With a focus on insurance for individuals and small businesses, Norwich Union insures:
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses - Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies and Norwich Union Direct.
- Norwich Union’s news releases and a selection of images are available on the Aviva internet press centre at www.aviva.com/media.
- An ISDN facility is available for studio quality broadcast. Call the press office on 08703 66 68 68
- For all life & pensions media enquiries 08703 66 68 73
- For all other media enquiries 08703 66 68 68