Plum’s eTrade premium reaches £12m with software house roll out strategy
Plum Underwriting’s premium from its eTrade business is expected to build up over £12 million in the first year of its trading, which was formed in October last year.
The specialist home insurance managing general agent (MGA), which is part of the Global Risk Partners (GRP) group, has rolled out its full cycle electronic data interchange (EDI) products eLet and eFlex on various software house platforms. CDL is the latest software house to offer Plum eTrade products.
‘eFlex’ provides cover for specialist and non-standard household buildings, contents and valuables, and 'eLet' is for UK residential landlords who own either individual properties or large portfolios and covers buildings and contents for a range of tenancy types.
Simon Lewer, Plum’s business development director, said: "Continuing the roll-out of our eTrade products with CDL is an important step in the expansion of our broker footprint, offering an efficient service to brokers to meet the needs of their customers.
“We are committed to providing brokers with greater choice in the placement of non-standard risks through our successful eTrade strategy.”
David Whitaker, managing director, added: “This greater access for brokers combined with our underwriting expertise, clear business appetite, new products and the acquisition and integration of high net worth MGA Synergy, has seen GWP grow from £15m to £40m over the period.”
