Mark Plews, director of underwriting at Markel, discusses his firm’s entry to the excellence in underwriting category
1. Why did you put yourselves forward for this category?
Underwriting is at the heart of everything insurance does as a business and industry. As the risk environment changes for broker partners and clients, they demand new approaches and propositions to meet their needs.
Markel’s contractors combined product is the first in the market to include professional indemnity in a construction product as standard. The product delivers all the relevant covers that construction businesses require in one policy, saving brokers from the need to source multiple quotes and creating clarity for the client.
2. What makes your entry stand out, and why should you win the award?
Markel launched contractors dombined on Acturis and in every way it is the same product as its non-eTraded offer.
This allows brokers to trade in whichever way they choose. Construction is a high-risk sector. Launching this proposition on Acturis gives brokers the opportunity to trade in a quicker and easier way, while still having access to expert underwriters.
It challenges the misconception that eTrading is only possible for straightforward risks. It can now handle an increased volume of submissions and quotes while also ensuring construction clients have cover that is appropriate to the specific risks they face.
3. What would winning this award mean to you and your firm?
Winning this award would be fitting recognition for the staff and team that have worked hard to deliver such an innovative new proposition.
It demonstrates how underwriting excellence is about discipline, but also innovation. It is proud to have made a product that meets a real need in the market more easily accessible to brokers via the Acturis platform.
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