News > 20 January 2006
First HNW EDI multi-vehicle car policy launched by Chubb and CDL
Chubb Insurance has launched the first EDI multi-vehicle prestige car policy for brokers to reduce administration and increase accessibility.
Masterpiece Motor is now available electronically to Chubb brokers via the CDL software system, having previously only been available manually. CDL was selected as Chubb’s software partner based on its ability to accommodate specialist schemes and the number of specialist personal lines intermediaries within its client portfolio. CDL has also worked with Chubb to pioneer the capability to support multi-vehicle policies by attaching subsequent vehicles to the same client record.
The decision to launch an EDI facility for Masterpiece Motor follows a successful pilot with Chubb broker and CDL intermediary, Cheam Insurance Brokers Ltd, in the last quarter of 2005. Director of Cheam Insurance, Mark Abbott, stated: “Chubb has developed a fantastic prestige motor facility in response to broker demand. Multi-vehicle policies via EDI are certainly the way forward.”
Chubb launched the market’s first multi-vehicle prestige motor policy in 1999 as part of its Masterpiece HNW personal lines package, before launching a standalone prestige motor policy in 2003. The success of the concept has led to the announcement this week that a direct insurer is to launch its own version, but for standard value vehicles.
Targeting individuals who have at least one vehicle with a price new of £30k upwards, Masterpiece Motor cover includes features such as net rated premiums, agreed value cover, a like-for-like courtesy car, generous driving restrictions and comprehensive cover when driving third party vehicles.
Chubb Motor Manager, Ashley Cole, said: “Chubb is now unique in offering its brokers a multi-vehicle prestige car policy via EDI. We were first to market with manual multi-vehicle prestige motor policies, so it’s fitting that we’re first to market with this efficient automated capability.”
CDL general manager, Rick Slater, confirmed the software house’s commitment to working with Chubb. “We are delighted to have established this relationship with Chubb, and to be in a position where we can make this market-leading product available to our intermediaries.”