New single-policy system aims to simplify the process

RSA has claimed that its latest product will change the way mid net worth (MNW) insurance is distributed.

The insurer’s new offering, which includes buildings cover up to £2m, contents cover up to £300,000, and motor cover including classic cars and family fleets through a single policy, is supplied by online insurance solutions provider Selfnet. The new system claims to simplify insurance sales for brokers and customers, and minimise administration.

RSA’s personal lines trading director, Daniel Venner, said MNW customers – people with liquid assets of up to £200,000 – needed specialist products. “This will change the way that MNW is bought and change the way that people approach the market,” he said.