September 2009 - Property Protector News (Issue 4)

1 September 2009
 

News and Views from Property Protector - Issue 4 September 2009

In this issue

  • Online Quote Engine - Full cycle trading hitting your screens
  • Cherry Picking - Account consolidation you can rely on
  • Telephone Number Change - We’re phasing out our 0870 number
  • Property Management Agents - Are you missing out ?

Full Cycle Trading - New Online Quote Engine hitting your screens soon !

We have been working tirelessly since January 2009 to overhaul our IT system, and we are pleased to announce that you will soon have access to our Full Cycle quote engine. Uniquely, you will have access to our whole suite of products, including Residential, ResidentialLite, and even our Shop, Office and Commercial policies.

Everything you need - all under one roof.

Our new system will also allow us to bring new products to you seamlessly, and we expect to launch the first of our new contracts Tenants Contents and UK Holiday Homes soon after going live. Watch this space !

New Business Quotations – Quote, Buy, Print – Done!

With your unique secure login, you will be able to quote and bind cover online, and have your clients’ policy schedule issued immediately at the point of sale. Even referral cases can be transacted online. Anything outside of our normal acceptance criteria will be referred by the system. We will be alerted immediately and where possible, we will be able to override and allow you to transact the policy in ‘real time’.

Renewal Documentation – Available online

Our new system will also handle our renewals too. Our system will automatically generate your renewal documentation and alert you by email. You will be able to log-on, check and verify the renewal information, including index linked sums insured and download your clients’ documents straight away!

Mid Term Adjustments

Once transacted you will be able to search for and adjust your clients’ policies online. Change the risk, add a property, delete a property simply – Just change the risk details online, and the system will automatically calculate any premium adjustment due and issue revised policy documentation.

Brand New Website

To coincide with our new launch, our website will have a complete overhaul with lots of new features.

Commission Enhancements

To reflect our new streamlined process, we will be offering commission enhancements to all brokers that adopt our new transactional site. Enhancements of up to 2½% will be available, enabling our top producing brokers to earn up to 30% commission on all lines of business!

We’ll make an announcement as soon as we launch.

Cherry Picking?? – We have Account Consolidation you can rely on !

On speaking to many of our supporting brokers, some of you appear to be receiving a multitude of offers, from insurers and wholesalers alike, offering “deals” for your Property Owners business.

It would appear that some of these so called, “deals” are not all they are cracked up to be, and your client could be paying the price in the way of reduced policy cover. Just a few things to bear in mind …

Wide acceptance criteria – Make sure all tenant types are acceptable.
Many of these other schemes will cherry pick your good risks, and be unfavourable on the not so good ones !
(Remember that we accept all tenant types, including DSS Referrals, Asylum Seekers, and Students!)

Unoccupancy Period
Many other policies restrict cover or limit unoccupancy to very short periods (some as little as 14 days!)
(Remember that our policies cater for long periods of unoccupancy, often without restrictions in cover!)

Malicious Damage by Tenant
Often overlooked, many policy exclude this invaluable cover.
(Remember that our policies include this cover automatically!)

Always use our comparison tables to ensure that you are giving best advice to your clients, you’ll find them on our website.

Account Rollovers …

Many brokers, having realised both the quality of the product and speed and efficiency of our service, have entrusted their entire Property Owners portfolio to us.

Having arranged several "rollover" deals, we make the process very simple - we take an overview of your current book of business and following a quick paper based questionnaire we can usually offer:-

  • EXPIRING TERMS - Renewal of the policy at expiring terms (or better)
  • SUPERIOR COVER - Our exemplary product is better than most
  • NO HASSLE TRANSFERS - Statement of fact documentation for your client
  • ENHANCED COMMISSION - We have tiered commission levels up to 27.50%.

We don't shout about the level of service we offer, we just let other people do it for us - Visit the website and see our testimonials page. Visit www.bnlpp.co.uk

Our aim is to give you the opportunity to expand your property owner's book of business with an easy to use "one stop shop" facility for all your Property Owners business.

Property Management Agents – Are you missing out on valuable income?

Several of our members have had recent success in targeting this sector – a captive market for Property Owners insurance business. The market is estimated at approximately £1.25 billion gross written premium and has proved resilient in the current economic climate.

Most lettings agents act as Independent Appointed Representatives (IARs) to companies such as HomeLet, but many of these residential providers cannot easily write shops, offices and commercial property owners business.

These insurers will normally also want to cherry pick the better professional residential risks and shun the typical problem areas such as DSS referral, asylum seekers and unoccupied property.

As Property Protector has such wide policy cover, and inclusive specialised covers, with options for Rent Guarantee we can provide you with a single point of reference. With our significant underwriting experience and market share with unique offerings dealing with :-

  • Unoccupied periods between lettings
  • Full liability wordings
  • Specialised covers available such as defective titles
  • Dual offers of cover for the residential cases.
  • Solution only offered by limited number of brokers.

Who to target?

We suggest that you target those agents in your area that manage both residential and commercial properties. You can use a variety of sources including Google, Yell.com, BT Exchanges and other online search engines.

What’s my USP ?

Remember that you can help the agent enhance the service that they provide to their landlords by offering Property Protector. One of our unique selling points is the Property Protector 24 Hour Tenants Emergency Helpline which is available to every policyholder, providing Emergency Out of Hours help and assistance to tenants. This service is available whether the damage is insured or not, providing invaluable assistance in the event of blocked drains or leaking pipes. More details of the helpline are highlighted overleaf and can also be found on our website.

What else can I offer ?

The agent could be offering their client additional benefits like Rent Guarantee Cover, an option under our Legal Expenses policy, and also offering a facility for tenants contents insurance too (We’ll be launching a similar product ourselves shortly)

What can I offer the agent?

With the suite of Property Protector products, you have the opportunity of building a long term business relationship with the lettings agent, providing them with a single point of contact for all things insurance.

How can you help?

We are in the process of developing a leaflet/mailer, which we could co-brand to help you with an introduction to your local Lettings Agents. Should you be interested, please contact us on the usual numbers.

Phone Number Change – Phasing out the 0870 numbers

In readiness for our new IT system, we will shortly be phasing out our 0870 telephone numbers.

We have replaced these Non Geographic numbers, with two dedicated numbers from our system, giving us greater control and flexibility in their use.

Please therefore note our new contact numbers effective from 1 November 2009

New Phone Number: 0115 968 3293
New Fax Number: 0115 968 3292

The old “0870” numbers will cease on 31 October 2009.

Tenants Helpline – Are your clients making the most use of this facility

We understand that in the rental tenant and lessee arena, landlords and managing agents struggle to service well the diverse needs of the tenant/lessee population out of hours. Property Protector's Emergency Helpline is an innovative service that has been developed to serve this out of hours need.

Every Property Protector policy comes with an Emergency Helpline service. Designed for complete peace of mind for the landlord, this service will provide emergency assistance 24/7 for the tenant of the property in the event of an emergency.

The tenant is provided with an "0845" number which is connected to a call centre manned by 34 trained technicians providing 24/7 access to a network of emergency maintenance contractors to provide the right expert with the required skills during the inconvenient times. The call centre complete a data capture form to decide best course of action - If the incident is an emergency (as defined) an approved emergency contractor is appointed. Non-emergency work can be scheduled as usual.

Should work be necessary, the tenant simply arranges payment of the works, and the fixed call out charge, by credit card over the telephone, and pass to the landlord for recovery where necessary.

Property Protector's Emergency Helpline will take emergency and out of hours calls, and appoint contractors to mitigate damage. It will improve the service to tenants/lessees through easy and fast response.

As the helpline is also linked directly to our claims team, should any emergency repairs be an insured peril, this can be passed on, and the claim will be dealt with straight away !

Property Protector Emergency Helpline - 0845 604 9844