Groupama boosts SME products

Groupama Insurances has expanded its SME offering to brokers.

Following discussions with brokers and intermediaries, it has improved its Optima Trade Plus and Optima Trade & Professional products.

The products will be available to 12 new trades including gym and fitness instructors, teachers and tutors.

Lynn Harris, head of customer propositions, said: “We will constantly review the market and we intend on making continual changes. We want to be market leaders in this area in terms of our product offering.”

Multi-person discounts have been increased on selected trades, and the insurer has added to the number of people who can be covered under a policy.

Harris added: “Optima Trade Plus and Optima Trade & Professional target the small trader and self-employed with a range of benefits including covers on Optima Trade Plus that have traditionally only been available to much larger companies.

These latest enhancements build on the success of these products and represent a significant development opportunity for brokers targeting the three million businesses in this important segment of the UK’s SME community.”

Additional features include extending employers’ liability cover to include cover for injury to working partners, as well as an option to purchase temporary employee cover if there is no employers’ liability cover.

Groupama’s extranet facility, Optima Online, which allows brokers to quote and buy SME products online, will also undergo a revamp in the near future. The insurer has been working closely with brokers on the product with a pilot expected towards the end of the year with a full release in 2009.

The insurer’s first half results released last month showed a post-tax profit for the six months to the end of June of £15m, compared to £15.1m in the first half of 2007.

Personal lines business revenues were 9.5% ahead of 2007 at £123.6m. Commercial lines revenues eased back slightly to £54.7m this year, from £55.4m last year.