The deal aims to help brokers find a solution in a market that has ‘become increasingly difficult to underwrite profitably’, says chief executive
Embedded finance platform Certua has partnered with insurer Beazley to provide embedded specialist insurance for small scheme and programme business.
Beazley will use Certua’s embedded insurance platform as part of the partnership, with the aim of underwriting small scheme opportunities in an efficient and cost-effective way for both brokers and insureds.
The insurer’s combined medical malpractice, professional indemnity and public liability cover for small companies and individuals providing medical services will be the partner’s first UK product to go live on the platform.
Certua said further plans were being developed to expand the range of products that Beazley will offer.
Broker support
Tom Williams, chief executive of Certua, said: “Certua’s embedded insurance platform is designed to handle full cycle underwriting risk assessment and product administration, as well as provide a bespoke interface for scheme business.
Read: Embedded insurance to grow rapidly over the next 10 years – BrokerFest 2022
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“Our tailored platform maximises the benefits of technology for all parties in the placing chain, enabling a tailored user experience, reducing operational overheads, streamlining processing and increasing profitability for small scheme and programme business that has become increasingly difficult to underwrite profitably.”
Beazley’s focus group leader for healthcare international specialty programmes Nick Pearce, meanwhile, said: “We are excited by this partnership, which will enable us to better support our brokers in finding a solution for small scheme and programme healthcare business”.
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