Qlaims Boosts Commercial Lines Product Range

Latest from Qlaims, who are enhancing their Commercial Lines products;

Qlaims Limited, the InsureTech MGA, has announced some further enhancements to its commercial lines claims assistance services. Following feedback from brokers, the changes make their ‘Qlaims Insurance for Businesses’ even easier to add to commercial property insurances, as well as widening its scope – now also supporting clients with new subsidence claims.

The changes aim to support brokers deliver on consumer duty, making the cover easier to access, with less barriers. Qlaims Insurance for Businesses offers clients with an additional value add cover (Loss Recovery Insurance) to enhance their commercial property insurances. The product provides clients with their own claims specialist to prepare, and project manage their claims for property damage and business interruption, above a specified threshold.

Liz Latter, CEO of Qlaims explains, “these changes are a key part of our strategy to make this cover more accessible to clients. The cover must be simple to attach to underlying insurances, without additional barriers around risk or client eligibility.” Their updated Qlaims Insurance for Businesses removes eligibility criteria as well as expands the cover. Liz described that “acting on feedback from our brokers we have now also included cover for new subsidence claims; and widened our geographical footprint to risks based in Northern Ireland. To enable brokers to add Qlaims Insurance easily, we understand the cover needs to be price competitive and wide, to complement the underlying policy.”

David Williams, non-Executive Director and Consumer Duty Champion at Qlaims added, “Whilst we have been considering the position of Qlaims Insurance in light of the new requirements, we also see the value that Qlaims adds to the underlying policy and protection of customer outcomes. It is important to ensure this product is as easy to trade as possible, but I genuinely believe it goes beyond that, the updated products help brokers deliver on the outcomes their customers expect from their insurance providers”.

The enhancements also apply to its home product, which was updated in July and with new more competitive rating, designed to enable Qlaims for Homes to be added more easily to all home insurances and not just the mid and higher net worth sectors.

The changes come in the same week that Qlaims starts trading with Prestige Underwriting. The deal that was signed in May, will provide their 30,000 Coverall and Thatch clients with Qlaims Insurance as a part of the updated policy wording being launched this month. Alison Williams, Managing Director of Prestige Underwriting Services commented, “Including Qlaims reinforces the support and assistance we can offer clients when they need it most, at the point of claim.”