Arkel has announced its Premier Let property insurance product’s integration into the OpenGI trading platform, marking a significant expansion in its distribution capabilities.
- This integration enables all brokers on the OpenGI platform to access Arkel’s Premier Let product, which provides substantial coverage up to £2 million.
- The Premier Let insurance includes building, loss of income, contents, and property owner’s liability coverage, catering to non-standard risks.
- The product is also hosted on bespoke software as well as Applied Systems, highlighting Arkel’s commitment to broadening its reach.
- Arkel plans to launch the let property products through major distribution partners later this year, further enhancing their market presence.
Arkel’s decision to integrate its Premier Let product into the OpenGI trading platform demonstrates a strategic move to expand its reach within the insurance market. By making their innovative landlord insurance accessible to all OpenGI brokers, Arkel opens up new opportunities for brokers to engage with a comprehensive coverage solution. This product, which offers building insurance, content coverage, loss of income protection, and liability coverage for property owners, is poised to address various non-standard insurance needs.
The comprehensive nature of the Premier Let insurance is reflected in its ability to cover up to £2 million, catering to risks often deemed challenging within the industry. These include atypical construction types, varying occupancies, and geographical exposures such as flood and subsidence scenarios. Such an offering provides a robust and reliable option for brokers handling complex property profiles.
Moreover, Arkel’s integration with OpenGI is supported by e-Zee Insurance Solutions, which underscores the role of collaborative efforts in enhancing product distribution. The compatibility of Premier Let with other bespoke computer systems and Applied Systems further highlights Arkel’s adaptive strategy in insurance product dissemination.
According to Kris Lee, the chief underwriting officer at Arkel, the incorporation of Premier Let into the OpenGI platform underscores the company’s dedication to simplifying complex insurance solutions. This integration aims to make it easier for brokers to quote and secure agreements for let property insurance, thereby maintaining Arkel’s leading position in the market.
Simon Macray from OGI emphasised that the inclusion of Arkel’s product enhances choice and flexibility for brokers, which aligns with OGI’s goal of empowering brokers to author more substantial and quality business. Arkel is recognised as an innovator in the managing general agent (MGA) sector, and such integrations are central to its strategy of broadening its reach across various broker channels.
Arkel’s integration of Premier Let with OpenGI reflects a forward-thinking approach to insurance distribution, aimed at meeting complex market demands.
