UK financial institution Virgin Cash has returned to the house insurance coverage market via a partnership with insurtech firm Uinsure.
The launch of recent residence and landlord insurance coverage comes after the corporate ceased providing residence insurance coverage merchandise in August 2021, as a part of a strategic assessment to give attention to its core enterprise areas.
Uinsure, recognized for connecting monetary intermediaries with UK insurers through a cloud-based platform, will allow Virgin Cash clients to acquire a 5 Star Defaqto rated insurance coverage quote shortly.
In accordance with the insurtech firm, clients can get a quote by answering just a few easy questions together with their title, date of delivery and postcode, in as little as 30 seconds.
The protection is designed to fulfill the precise wants of householders and landlords, offering as much as £1m in constructing cowl and £75,000 in contents cowl as commonplace.
Virgin Cash’s partnership with Uinsure is alleged to make sure aggressive pricing via a panel of insurers.
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The financial institution’s residence insurance coverage proposition features a dedication to low costs, that includes automated rebroking at renewal to save lots of clients effort and time.
Moreover, the providing guarantees a “clear” charge construction, with no costs for coverage cancellations or mid-term changes.
The brand new residence insurance coverage product is accessible on-line, with phone help out there for these with out web entry.
As per the announcement, Uinsure’s partnership additionally seeks to make sure that clients obtain the bottom worth from its panel of underwriters at every new enterprise or renewal quote, lowering the necessity for purchasers to check costs elsewhere.
Virgin Cash head of non-public banking Graeme Sands mentioned: “Virgin Cash’s progressive residence insurance coverage product gives a market-leading quote journey in as little as 30 seconds, aggressive pricing via a panel of insurers, automated rebroking at renewal and a clear charge construction with no hidden charges.
“In collaboration with Uinsure, who will administer our residence insurance coverage product, we offer clients with simplicity, high quality and transparency.”
Uinsure group managing director Martin Schulthiess mentioned: “Our know-how is constructed solely across the consumer – which means clients can get pleasure from an insurance coverage journey that is freed from the complexities they may beforehand have struggled with.
“The Virgin model is among the most recognised globally, with an extended historical past of pushing boundaries and innovating for the advantage of its clients. That mind-set very a lot mirrors our personal approach of working and we’re extraordinarily excited to start our partnership with Virgin Cash.”
Earlier this 12 months, Uinsure obtained an funding from Lloyds Growth Capital, which the corporate said would assist enhance its market share, discover new markets and increase its community of partnerships.
