Azur, the Managing Digital Agent, has today announced the launch of two new products – Azur Niche and Azur Unoccupied – to provide protection for a broader range of High Net Worth clients whose insurance needs fall outside of their typical High Net Worth (HNW) offering.
Azur Niche is aimed at HNW clients who require a solution for their assets, but who might be considered higher risk than normal. For example, the product can provide cover for those that may have an imbalanced portfolio, inadequate home security, history of claims, or any clients who are not permanently based in the UK.
Azur Unoccupied is designed to offer a solution for properties that are for sale, undergoing renovation or not permanently lived in, which can represent increased risk.
Both the Niche and Unoccupied products are underwritten by AIG and will fit into the range of home insurance products developed by Azur. The range aims to ensure it can always provide a solution to brokers and their clients whatever the circumstances.
Paul Glennerster, Technical Underwriting Manager, of Azur, comments:
“We’ve noticed that, when circumstances change for HNW clients, brokers are often left to source alternative policies. For example, when a client has a string of unfortunate claims the holding insurer may advise the broker that the risk is no longer a fit for their traditional appetite and therefore will need to seek alternative cover.
This is not only inefficient, but also results in a poor user experience for the broker and the client. In examples like this, our new products will enable us to seamlessly move an existing client across to our new products to reflect the change in their circumstances or quote a new client that cannot get cover from their holding insurer. We are set up to offer brokers a complete cycle of insurance products to cater for their clients’ changing needs across a broad range of different scenarios.”