"This is a great improvement to our renewal process and will ensure that our customers are benefitting from a panel approach not only at new business but each year at renewal too."
From July, Uinsure will rebroke all renewals by searching and comparing premiums from their panel of UK insurers, including AXA, Ageas, LV=Broker, RSA and UK General. If another insurer is cheaper, Uinsure will offer their customers the opportunity to switch to that insurer's new business price at renewal.
If the policy is an annually paid policy or is already premium funded, Uinsure will move the policyholder onto the cheapest insurer on the panel automatically. If the policyholder pays monthly but is not premium funded, Uinsure will ask the customer to opt in to move to the cheapest insurer and save money. If they choose not to, they will simply remain with their current insurer.
Paul Kelly, director of product development, commented: “This is a great improvement to our renewal process and will ensure that our customers are benefitting from a panel approach not only at new business but each year at renewal too.
"Customers can benefit from new business pricing at renewal and can be confident they will always be offered a great deal each year alongside consistent 5 Star Defaqto and Moneyfacts rated cover.”
