Highway Insurance has announced the launch of a pilot for its proposed entry into the household insurance market.
Highway said the decision to pilot Highway Choice Home, a broker only full cycle EDI household policy, follows a strategic review of the possibilities for using their established distribution network to sell non-motor products.
Chris Hill, managing director of Highway said: “The decision to run this household pilot follows encouraging testing of rates in a live broking environment and it is our intention to test our belief in Highway Choice Home before we decide whether to roll out nationally.
"We are very confident that the outcome will be positive and that household will become a valuable profit generator for both Highway and our brokers in the future.”
Highway Choice Home will be piloted from April by two brokers, Direct Choice who will access the product via the CDL broking system and 1st Quote, part of Highway Retail who will use their internet site.
The brokers placing combined buildings and contents will receive a rate discount of 15%. Stand-alone buildings cover will also be available.
If the pilot is as successful, the product will be made available via all major software houses including SSP, CDL, and Misys by the end of the year.
