Case Study; Towergate & Modus

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In September 2020 Towergate Insurance* came to us in need of a new scheme designed by Modus Underwriting*, that covered three different risk types; commercial, residential, and unoccupied buildings. We had been working with Towergate for seven years, and had previously built two other Property Owners schemes for them. 

In the scheme that needed implementing, there were three risk types all of which had a different rating approach and captured varying information on the quotation journey. So, although the process seemed quite straightforward, behind the scenes it had its challenges! It was for this reason that the expertise of the SchemeServe ‘Wunderwriters’ was needed. The Obsessive Support team is the only support service exclusively run by ex-underwriters (Wunderwriters) who are trained in web design. They are praised time and time again for their responsiveness, and expert knowledge in underwriting and scheme building. 

In conversation with both parties, we understood that they needed;

  • An automated way to run online quotes, as well as process the policy adjustments and cancellations. Towergate were keen to reduce human intervention as much as possible, so we made this possible by implementing an automatic and accurate premium, even under the most complicated conditions, and auto-generating reliable policy documents.
  • A variety of triggers, and several hidden fields; these triggers needed to be captured mid-step in the rating of the scheme build, and alongside our MultiPage function allowed both Residential and Commercial risks under the same scheme. 
  • Our MultiPage function; allowing Towergate’s customers to have (potentially) a combination of all risk types within the same policy. This scheme accommodates single properties or multi-location portfolios. The project needed to also allow multi-tenure properties (with over 2,000 trades acceptable for commercial properties), as well as both occupied and unoccupied premises. 
  • Full and restricted perils cover options; these needed to be made available for unoccupied risks. 
  • Short term period solutions; allowing three, or six-month policies, for Residential type risks. 
  • Optional covers; were also made available, such as cover for terrorism and legal expenses. 

SchemeServe always test schemes built in-house thoroughly, and given the complexity of the scheme a long testing process was needed to ensure all bases were covered. Towergate and Modus also tested the scheme comprehensively and worked alongside us to ensure it operated as needed.

The results speak for themselves! Towergate and Modus have told us how impressed they are with the scheme itself, as well as with the rapid delivery and level of support they have received throughout the project.

“SchemeServe are fantastic at being able to build new schemes for us in a fraction of the time it would take other software house platforms to do, and at a fraction of the cost too! The support tickets we raise are answered and resolved in a matter of hours!”

Gavin, Towergate Insurance

*About Towergate

Towergate Insurance Brokers is one of the UK’s leading independent insurance broker and risk management advisors. Every day, Towergate Insurance Brokers look after the insurance requirements of businesses active in over 200 different fields. Not just throughout the UK but across Europe as well. Our teams of specialists have built a solid reputation for understanding many business sectors and industries, and the everyday risks that they face in today’s increasingly complex commercial world. We also look after the insurance needs of private individuals and families seeking tailored personal cover.

www.towergateinsurance.co.uk

*About Modus

Established in 2015 as a data-driven, digital insurance provider, Modus unites traditional insurance disciplines with cutting-edge technology to offer fully-automated, niche, property insurance products & solutions for our partner brokers and their customers. Modus distributes schemes and products digitally and exclusively via UK-based, FCA-authorised insurance intermediaries.

www.modusunderwriting.com

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