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How we’re making small fleet trading easy

At a glance

  • Customers with smaller fleets tend to switch providers frequently, and want a speedy response from brokers and insurers
  • The administrative process involved in placing small fleet cover can therefore be a source of frustration for brokers
  • We discuss how our Small Fleet policy, available on our ZTrade platform, simplifies the process

Arranging cover for customers with smaller fleets can be a challenge. Typically, brokers can struggle to generate commission from small fleet risks, which makes it important to place cover as quickly and as efficiently as possible.

Stand out features of our Small Fleet cover

  • Personal property covered as standard
  • The broadest definition of “passenger” when offering cover to third parties
  • Any driver cover with no young driver excesses
  • £50m of cover for Third Party Property Damage on commercial cars
  • Discounted AA rates

Customers too, want a quick turnaround. Lynn Jones, Senior Trading Underwriter, Zurich, says: “The smaller end of the fleet market is fast-flowing and is more in line with personal lines, where customers shop around each year to find the best premiums.

“As a lot of these cases are last-minute opportunities, a speedy response from an insurer is paramount.”

The nature of the market means most composite insurers no longer trade small fleet insurance in the traditional way, and funnel brokers onto their e-trading platforms.

Not only can this cause difficulties for brokers who need to reach an underwriter, but the administration involved with small fleet risks, for example the way vehicle details are entered, can further slow the process.

How Zurich makes it easier for you

Our Small Fleet product and the enhancements we’ve made to our ZTrade platform make it easier to place cover for your small fleet customers.

Here are five of the key broker benefits:

1. Self-serve or speak to an underwriter – it’s your choice

For straightforward risks, brokers can obtain a quote themselves using ZTrade and self-serve all the way through to binding if they prefer. However, unlike many insurers, we make sure brokers can always contact an underwriter if they need to.

Lynn says: “What we’re saying to brokers is ‘you can do it your way’. If brokers want to self-serve to the end, they can, but if they want to contact us in the traditional way, they have that option.”

2. Obtaining quotes in a matter of minutes

While brokers can get a full quote on ZTrade in around 10 minutes (depending on the number of vehicles), a Zurich Indicative Price (ZIP) can be obtained in just minutes for multiple vehicles.

For brokers who haven’t used ZTrade for a while, now is the perfect time to give it another go,”
Lynn Jones, Senior Trading Underwriter, Zurich

The only information required to get a ZIP is the vehicle schedule, and three years’ Confirmed Claims Experience.

In addition, while most insurers require brokers to enter details of each vehicle individually, ZTrade allows multiple vehicles to be entered in one go.

3. Automatic updating of the Motor Insurance Database

Our Small Fleet product allows the Motor Insurance Database (MID) to be updated as and when, without the need for a declaration.

Lynn says: “Brokers can go onto ZTrade and process MTA’s or they can send the details to us in an email, and our processing team will process them within 48 hours.

“We can do this for up to 20 vehicles, which puts us at the top end of the market.”

4. A quicker, slicker platform

We have made a number of enhancements to ZTrade in response to broker feedback, addressing issues including functionality and speed. In addition, ZTrade now features a renewal functionality. Any policy initially quoted for after July 2016 will be eligible for renewal on ZTrade.

5. Meeting brokers’ needs

Our Small Fleet policy has been available on ZTrade since the end of July.

Lynn says: “We’re really pleased with how it’s been received and with the feedback we’ve had.

“We understand that as a broker, you are time sensitive when it comes to placing small fleet cover and you need a platform that is quick and easy to use.

“We now have a really slick Small Fleet product and a really fast platform on which to trade it. For brokers who haven’t used ZTrade for a while, now is the perfect time to give it another go.”

To find out more about our enhanced SME proposition, speak to your usual Zurich contact or log in to ZTrade.

Image © Getty

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