Sterling Pet Solutions, part of the Sterling Insurance Group, has launched a new pet insurance facility with insurance sales service partner CoverCloud.
The new pet product for cats and dogs offers four levels of cover, from an accident only product through to a comprehensive premium cover with £7,000 per condition benefit levels.
Sterling Pet Solutions, launched in February last year, has designed a bespoke end to end policy and claims administration system, together with a rating engine and online Quote & Buy functionality. Sterling will also provide the claims handling.
CoverCloud will be marketing the pet product to a large variety of existing customers and sales suppliers including the COBRA network of 108 independent commercial insurance brokers and Costco which is the UKs largest membership warehouse chain with 26 large scales stores and three million active members across the UK. Costco provides a broad range of wholesale products to member SME retailers and individuals.
Ian Bubb, Associate Director, Sterling Pet Solutions, comments: “We are delighted to launch this bespoke pet insurance solution for CoverCloud and its partner suppliers. The end to end system facilitates a seamless and comprehensive underwriting and administrative capability. As well as being operationally efficient it is highly innovative offering customers the opportunity to receive text messages upon policy completion and allows storage of pet identity photographs against policies to counter fraud at the claims stage.
“The pet insurance market has suffered from restricted capacity and is often criticised for its poor customer service. We are delighted to bring Sterling’s technical and underwriting expertise and commitment to excellent service back to the pet insurance market. It represents a tremendous opportunity.”
For further information please contact SJ Douglas at Spotlight Consulting on 07909546104 or email@example.com
About Sterling Insurance Group
Sterling Insurance is a UK subsidiary of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France and served over 11.3 million policyholders, with earned premiums of €16.5bn in 2014.
Sterling Insurance provides a diverse range of niche insurance products including: Mid and High Net Worth Household; SME Commercial; Short term income Protection; Personal Accident; and Life from its regional offices around the UK. It also provides insurance administration and technology services to some of the country’s largest financial institutions. Its 2014 turnover was 151 million GBP and it has 387 employees, with the majority based at its offices in West Malling, Kent.
CoverCloud is a marketing brand of Acumen Insurance Services Limited. CoverCloud was created with the goal of providing insurance cover in the form of a ‘one stop shop’ for a variety of insurance products.
The Directors and Management of Acumen Insurance Services have over 30 years’ experience in the insurance industry and aim to provide efficient customer service combined with a solution for today’s innovative insurance products.
Acumen Insurance Services Limited is a Member of the Financial Conduct Authority (FCA Reference No 423859) and an Appointed Representative of ITC Compliance Limited (Companies House No 04874285/FCA Reference No 313486).
Costco Wholesale Corporation operates an international chain of membership warehouses, under the “Costco Wholesale” name, that carry quality, brand name merchandise at substantially lower prices than are typically found at conventional wholesale or retail outlets. The warehouses are designed to help small-to-medium-sized businesses reduce costs in purchasing for resale and for everyday business use. Individual Members may also purchase for their personal needs. Costco Wholesale Corporation trades on the NASDAQ under the symbol ‘COST’. Its world headquarters are located in Issaquah, Washington and the U.K. Home Office is located in Watford, Hertfordshire.
Established in June 2003, COBRA Network is the UK’s leading network of independent commercial insurance brokers. Based in Fenchurch Street, London, COBRA Network offers independent commercial brokers the benefits of working together in a true partnership that enables them to compete more effectively in an increasingly competitive marketplace.