The partnership between Open GI and Plum Underwriting has grown by providing Flood Re’s support to Plum’s new, better home insurance for UK brokers.
Plum will be able to code risks in places where it would have been difficult to provide coverage previously thanks to Open GI’s technology and data enrichment. This allows brokers who work with clients in flood-prone areas to offer them flood insurance. According to Open GI, it is the first technology company to provide this service to brokers.
“We’re thrilled to have worked with Open GI and Flood Re to improve the technology around insurer-hosted pricing and support our plan to help our brokers and customers who find it difficult to get flood coverage,” said Plum Underwriting’s managing director, David Whitaker. “We’re excited about the opportunities this opens up, and we look forward to working with you to improve our automated, specialized home insurance.”
“This is a great thing for the GI market,” said Simon Badley, group chief executive officer of Open GI. “We’re glad to be able to help with this particular idea with our knowledge of connectivity. This new offering will give brokers and underwriters a better understanding of flood risks, which they might not have been willing to take on before. Thanks to technology, we can make this happen.”
“It’s another step forward in which we can assist Plum Underwriting and expand what we have to offer in the GI market,” a Flood Re representative said. “Climate change brings a lot of problems, but by working together, as this partnership demonstrates, we can offer products that will help and protect our customers better.”