Saturday, 24 June 2017

GRP-backed agency adds software house and sets GWP target

New deal to contribute to ambitious target for GRP-backed agency

Specialist home underwriting agency Plum Underwriting has rolled out its e-traded products on software house CDL as it shoots for its gross written premium (GWP) target of £100m by 2020.

The GRP-backed agency also expects the e-traded portion of its business to hit £12m GWP in the year to 31 March 2017, the first full year of trading for this segment of its business. Plum overall expects to control around £40m GWP in this period.

Plum has two main ways of trading: through its own web portal, which is branded Plum Private Clients, or through broker software houses and brokers’ own trading systems, which it describes as its e-traded business. The e-traded business also includes delegated authority broker schemes.

The company started rolling out e-traded versions of its products on the big software houses this year, starting with Open GI in January and adding SSP in April.

Brokers using CDL will have access to Plum’s eFlex and eLet e-traded products with immediate effect. EFlex provides specialist and non-standard household buildings, contents and valuables cover and eLet is for UK residential landlords who own either individual properties or large portfolios.

Plum business development director Simon Lewer said: “Continuing the roll out of our eTrade products with CDL is an important step in the expansion of our broker footprint, offering an efficient service to brokers to meet the needs of their customers. We are committed to providing brokers with greater choice in the placement of non-standard risks through our successful eTrade strategy.”

 

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