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Daily Insurance Industry News
Tuesday 14th of August 2018
June 7, 2010

NIG revamps SME offering

by Gill Montia

Story link: NIG revamps SME offering

NIG revamps SME offering

NIG has relaunched the SME package products suite on its network broker system.

The insurer has revamped some products, added a new policy and fine-tuned its quote system to generate more competitive pricing, with premium savings of around 15% to 20% achievable in some cases.

Turning to NIG’s new “Professionals” offering, the policy is aimed at management consultant, hairdressers, accountants and architects with up to 15 employees.

Business equipment, money, personal accident and stock cover are available at a starting premium of £40.

In addition, the Royal Bank of Scotland subsidiary is offering no claims discounts on all its package products together with a 5% broker discretion on premiums and greater flexibility in quoting for larger risks.

The changes are in line with the company’s strategy of increasing market share in the larger and more complex risks within the SME market.

NIG’s head of pricing & packages, Dave Cahoon, says: “Combine this very competitive pricing with great product enhancements, no claims discounts across the board and a 5% discretion for brokers, and NIG Network will be extremely hard to beat for package business.”

 

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