UK&I expands broker-led personal lines offering

UK & Ireland Insurance Services of broker-led insurance products.

The Manchester-based company said it will offer cover for personal possessions policies for students, nurses, graduates and those living in shared accommodation, through its website, cover4brokers.com.

Martin Nugent, from UK&I, said: “Most commercial brokers don't actively market themselves in these areas but this can be very dangerous. Other than potentially losing out on a growing market, many brokers are at risk of losing existing clients to competitors.

“Commercial clients have high expectations of their brokers and want them to look after all their insurance requirements, including those that are family related.

“If, for example, a company MD can't get cover from their incumbent broker for one of their children starting University, they'll certainly open up a dialogue with another provider, which could eventually see the whole account being lost.

“Brokers are also losing market share too. The student and young professional sector offers enormous growth potential as it has grown considerably in recent years.

“Gaining students as clients will provide brokers with many cross selling opportunities.”