NU launches online property insurance tool for brokers

by Gill Montia

Story link: NU launches online property insurance tool for brokers

Norwich Union (NU) has launched Property Market Insurance (PMI), a new online tool that aims to help brokers provide a more flexible and efficient service to property owners.

PMI is a Windows-based application that operates in real time and input information is only accessible by the broker and NU.

The system calculates premiums and takes care of billing while allowing users to produce a variety of policy documents, such as property schedules, tenant and VAT certificates, securely via the Internet.

Brokers using the service are provided with a unique identification code which means they can access the system remotely and are not restricted to one PC to produce policy documentation.

Staff can work from home or while on the move and a number of employees can access PMI simultaneously.

NU’s senior underwriter for property owners, Steve Freight, explains that research shows property owners are looking for a quality service.

He believes that PMI can enable brokers to achieve this, pointing out that some systems already in place for producing policy documents may not be as secure as PMI and cannot produce documentation instantaneously.