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Simple and flexible- our approach to Commercial Combined

At a glance

  • Zurich has launched its new Commercial Combined policy, designed for small to medium-sized businesses with a turnover of up to £5m
  • Up to 20 covers can be included in a single contract, and it’s easy for brokers to add or remove covers as their customers’ needs change
  • We discuss the policy’s key features – and how these have been shaped by broker feedback

As businesses change and grow, their insurance requirements change too. Small to medium-sized businesses require flexible insurance solutions that can respond to their changing circumstances.

Zurich’s new Commercial Combined policy provides this flexibility. Brokers placing business through Zurich’s e-trading platform, Zurich Online, can include up to 20 covers in a single policy.

Aimed at UK companies with revenues of up to £5m, tailored policy wordings make the policy suitable for a wide range of businesses, not just the manufacturers and wholesalers who are typically associated with commercial combined policies.


A simple one-quote approach to market

Derek Sloan, Senior Product Underwriter at Zurich, explains: “We want to be flexible enough to give the cover that the customer actually needs. We have developed an approach whereby all of a customer’s covers, from cyber through to breakdown, can be bundled together into a single policy wording.

“Brokers can also add and amend covers as their customers require. For example, a business that sets up on day one with employers’ liability and public liability may acquire a property six months down the line, and later require material damage and business interruption cover. The policy is flexible enough to accommodate this through a single wording and quote.

“The Zurich Online dashboard also makes it easy to quickly select the cover required, and adding an additional cover only takes a matter of minutes in most cases. Adding multiple covers is also straightforward, as there is no need to go to multiple sites for multiple quotes.”

A key selling point is the depth and breadth of covers available. This includes optional core covers of material damage, public liability, employers’ liability, and contractors all risk.

Derek says: “A broker simply has to log in to the dashboard, select any of these core products, and then build up the rest of the cover around it.”

He adds: “We are always looking to develop our cover to better reflect the needs of customers. For example, our public and products liability cover has been enhanced to include £50,000 for product recall cover. Elsewhere, we have made changes to inner limits to give additional reassurance to customers.”


The value of broker feedback

Broker feedback has helped to shape Zurich’s Commercial Combined policy. And broker insight has also been key to the development of Zurich Online.

Derek says: “We worked with brokers over a couple of years to develop the original proof of concept, and have continued to hold feedback sessions since the product launch to further improve the offer.”

Thanks in part to this broker feedback, Zurich Online is easy to navigate, with product choices and selection made simpler and documentation easier to find. This reduces the number of referrals and helps to improve the speed of response.

Brokers also benefit from value-added services, such as our Business Interruption Calculator – a simple online tool that helps assess everything that needs to be included to achieve a more accurate level of BI cover.

While most business can be conducted directly through Zurich Online, there are also experts on hand at Zurich’s centres of excellence in Leeds and Cardiff to help with more complex questions.

For more information about the new Commercial Combined policy or Zurich Online, please visit our website or get in touch with your local Zurich contact.

Image © Getty

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