UK business insurer Peach Pi has released its first e-trade commercial product to the broker market. ‘Peach Pi for Professionals’, available via Acturis, is a new modular product aimed at freelancers and small professional businesses operating in the wellbeing and lifestyle sector.
Peach Pi has a hundred-year heritage of insuring community pharmacy and the firm was keen to extend its in-house expertise and excellent claims service to professions adjacent to pharmacy. Consequently, Peach Pi for Professionals is aimed at allied health professions such as audiologists, chiropodists and opticians, as well as complementary therapy, beauty and fitness.
Peach Pi for Professionals is a modular product that offers combinations of Professional Indemnity, Treatment Risk, Public and Product Liability, Employers Liability and Property insurance. It can cover PI up to £5m, PI and PL up to £10m and if Property is required up to 20 premises.
This flexible product has been developed to allow it to respond to the differing needs of small community businesses and the exposures they face. “Having spoken extensively to brokers it is apparent that a ‘one size fits all’ package is not what is wanted, particularly for entrepreneurial firms that want or need to change and diversify” explains Peach Pi’s Head of Distribution Allison Hughes (pictured). “It is also critically important to us to offer brokers the opportunity to give their individual clients clear, unambiguous cover for the particular risks that they face, rather than a package approach.”
As a small, niche insurer Peach Pi is committed to working with a hand-picked panel of Acturis brokers rather than advertising open or mass-market products. “We want to know them all really well, and for them to choose to trade with Peach Pi” says Hughes.
Whilst the product targets ‘professionals’, it is not an offering designed for those sectors which usually define that space, such as solicitors and accountants – specialisms that Peach Pi for Professionals does not cover. Hughes comments: “We know from our rich history that many people regard themselves as professionals and we believe they deserve the kind of service proposition that is already available to the more recognised categories in the higher risk segments. Our personal claims services is effectively the product we are taking to market. This first e-trade product is one way for brokers trading on the Acturis platform to access that service for their clients.
Lisa Banks, Peach Pi’s Chief Operating officer adds; “We are passionate about providing an exceptional claims handling service and going the extra mile for our customers, to safeguard their businesses and reputations. We understand that receiving a claim for damages is extremely challenging, both professionally and personally. Our in-house claims team is staffed by highly experienced, qualified lawyers who are able to provide expert legal advice from the very first call to the conclusion of the claim, ensuring our customers receive the best service and support when they need it the most.”
Peach Pi has made two new strategic hires to support this new phase in its development. Rachel Kelly joins Allison Hughes’ team to help grow and manage the brand’s community of like-minded broker partners. PI specialist Maria Naghshbandi joins the underwriting team headed by Amanda Doran, providing expert support to brokers whether trading via the Acturis platform or through schemes.
If you are interested in finding out more about Peach Pi for Professionals please visit https://www.peachpi.co.uk/trading-with-us/peach-pi-for-professionals/ for full details of what we cover.