Geo, formerly Towergate, and DAS launch home product for private clients

Expenses insurer, DAS UK Group has teamed up with Geo Underwriting to launch a new high net worth (HNW) private clients home insurance product.

The new product will home emergency, legal and expenses and cyber cover, with access to a software platform which will be provided by security experts DynaRisk.

The platform will assess the online habits of individuals or families, and from the information, will give them a ‘risk score’.

It will then give advice on how to reduce the risk of a cyber crime or how to prevent a cyber incident.

Geo also says the product will enable brokers to provide a bespoke cyber insurance policy while weakening cyber threats.

The product will be underwritten by DAS UK and administered by Geo,cyber aspects of the product have come as a result of an ongoing collaboration between DAS and HSB Engineering.

James Henderson, managing director of UK and Ireland insurance for DAS UK, said: “Threats from online crime such as hacking, ransomware and identity theft are now just as potentially devastating to consumers as a house fire.

“As an insurer’s role is increasing to protect and prevent, it’s vital that companies such as DAS reflect these seismic societal changes, as well as the opportunities they present.”

Alex Fletton, chief executive of Geo Personal Lines added: “I’m delighted that we can launch Geo’s first personal lines product on the very day that Geo Personal Lines itself is born. The new private clients product is the result of the expertise and vision of our Private Client MD Scott Leonard and his team who have chosen the best partners.”