Shored up by new deals signed with the Benfield Group and Santam, Bluesure is planning to extend its business to include all personal lines
Company name: Bluesure Limited address: 55 Bishopsgate, London, EC2N 38D
Main switchboard number: 0207 578 7439
Fax: 0207 578 3939
Main lines of business: Bluesure's product is an all-in-one personal insurances package policy sold via brokers and directly to consumers
Number of staff: 18
UK offices: 1
What is the company's history
Bluesure launched in July 2001 with eight main covers in a personal insurance package: (motor, buildings, contents, health, personal accident, extended warranty, worldwide travel and motor breakdown). Bluesure intends to extend the package to include practically all types of personal lines insurance including pet, dental and motorcycle insurance.
At the end of October 2002, Bluesure stopped accepting new business as a result of not having underwriting support at that time.
In early March 2003, Bluesure announced it had signed a new deal with Santam and Benfield, who became joint shareholders in the business with Santam, providing underwriting capacity. Both shareholders have made a long-term commitment.
Currently Santam is in the process of applying for FSA Licence Authorisation for the Bluesure Package proposition. It already has an FSA-authorised licence for business arranged through its recent acquisition of Westminster Motor Insurance Association specialising in insurance for taxis and private motor rental companies. Also Santam and Bluesure are in advanced negotiations with a major UK insurer to enter into a long term strategic partnership to share in underwriting the Bluesure Package proposition.
Meanwhile, Bluesure is developing a range of improvements to our business transaction process to make it easier for broker partners to place business as soon as appropriate authorisation permits Bluesure to recommence active trading.
Bluesure says the investment and underwriting capacity arranged with Santam will secure the long-term stability that will enable it to build and accelerate its unique personal insurance proposition focused on the broker market.
Bluesure is a member of the GISC.
Did you know?
One of our customers has 19 different covers arranged under its Bluesure Personal Insurance Package Policy. On average Bluesure's Package Policy has sold 3.7 covers per customer, much higher than traditional insurance products cross-selling attainment.