Insurance with Security (IWS)

Domestic

 

Risk Reduction

 

77% of UK households have home contents insurance whilst only circa 15% have professionally installed home security. The average UK contents book has a burglary and theft incidence rate of circa 1.5% with an average burglary & theft claim being around £1200. This means that meeting claims from burglary and theft cost UK insurers  £332,640,000 per annum.

 

4bi have conducted a survey of over 16,400 UK homes with monitored homes security and can report that the burglary and theft incidence rate in these premises stands at 0.006%. Using this lower rate to recalculate claims costs would indicate that the industry could save  £331,309,440 if all insured homes benefited from professional monitored home security.

 

Product Differentiation 

Being able to differentiate your policies with tangible products and services which actually provide customers with a permanent reminder that it is your brand that provides both the proactive and reactive security is an extremely important point of difference and one that should not be under estimated when planning long term relationships. To learn more about what 4bi’s IWS programs can do for your company why not get in touch, either call or email, one of our affinity team would be happy to talk you through the benefits.    

 

Personal Lines circa <50k

4bi’s IWS white labelled service has been specifically designed to slow down the attrition rates which can often run in the sub £50k market at greater that 20% pa. With the very aggressive stance being taken by some insurers and the publics use of aggregators those servicing the mass market need to find ways to slow the movement in this important sector.

 

Your IT systems

We understand the limitations of some of the insurance industries IT systems a have designed our own systems to accommodate the most common shortfalls. 4bi systems can link or feed specifically designed pages to affinity partners websites or indeed their affinity partners sites enabling seamless customer service to be passed through right to the point of sale and service.

 

Cross Selling

Using IWS as a cross selling platform is becoming a popular topic with some insurers planning to use  it to attract their motor book to household lines. Why not call our affinity team to learn more about the many ways IWS can be used to cross sell.

 

Mid Net Worth

This popular sector is being developed by numerous players and is a keen focus in the broker networks. When developing products to meet and exceed the expectations of this growing sector careful consideration needs to be given to the risks and rewards. >£50k and soon to be up to £125k has been identified as a strong market with those customers expecting more from their policies whilst keep an careful eye on cost. 4bi’s MNW IWS program helps win and keep this soon to be well serviced sector.

 

High Net Worth

4bi’s totally bespoke offering in this sector has been designed to completely integrate all aspects of security. From 24/7 estate surveillance, manned guarding, access control, CCTV and electronic security. 4bi will work with insurers to provide the highest standard of customer service demanded by this discerning sector.

 

Commercial

 

The SME commercial market is hotting up and it will continue to do so whilst the aggregators and direct insurers fight the price war in the domestic sector.

 

4bi provide the full range of security solutions to businesses across the UK and Eire. Why not speak with one of our affinity partner team to learn how your business can develop ways to attract new business and keep them for longer.

 

Over the years 4bi have developed various modelling tools which will enable you to forecast the savings and revenue you could make by implementing our security programs. Please contact us for further details.  

 

T: 0203 006 0461 Option 1

 

E: insurance@4bi.co.uk

Insurance

4bi through the Home Office QANGO AABC and a number of different affinity partners specialising in the insurance world offer security solutions to the SME business sector.

 

We also provide domestic solutions to every socio economic group all receiving the service levels you would expect from a leading provider.