The MGU has revealed a new portal for brokers
MGU Travel Insurance Facilities Group (Tifgroup) has this week (February 2023) launched a new portal for the broker market, confirming that it is once again serving intermediaries after being forced to stop UK business nearly two years ago.
Tifgroup initially announced that it had to “temporarily” pause new policy sales to UK customers back in July 2021 because its former insurer partner, German insurer Union Reiseversicherung (URV), pulled the plug on the UK market due to regulatory changes arising from Brexit.
To regain business after taking an approximate £23.5m tumble in turnover, Tifgroup turned to White Horse Insurance Ireland dac as a replacement for URV also in July 2021 – this agreement only lasted six days, however, as the regulator made moves to shut down the business.
In December 2021, the FCA instructed Tifgroup to cease its services pertaining to claims and complaints handling, as well as new insurance distribution activity in the UK for previous partners URV and White Horse Insurance Ireland dac.
At this time, a spokesperson from Tifgroup told Insurance Times that the business was working with the supervision team at the FCA to “explain [its] assistance model and rationale”, which it believed was protecting its consumers.
The MGU then partnered with The Collinson Group in December 2021, which handled UK claims and assistance services on its behalf.
Now, Tifgroup has made its return to the UK market and is “excited to be back in the broker space, which was an important part of the business until we had to pause sales”, said Suretravel manager Amber Moon.
Suretravel is one of Tifgroup’s brands.
As part of its relaunch into the broker marketplace, UK brokers are able to access Tifgroup’s new portal – situated under its Suretravel brand – to sell travel insurance to clients.
The portal includes the use of the firm’s medical screening tool, Protectif, which enables brokers to list their customers’ prescribed medications and linked health conditions.
Moon continued: “Our new portal will give both brokers and agents easy access to travel insurance products.
“We strongly believe there is a real need for choice in the UK market for travel insurance policies and related services – particularly those aimed at helping consumers with medical conditions find suitable insurance at affordable prices, allowing them to travel.”