AXA partners with CDL to launch first open market software house Flood Re solution for brokers
28th November 2016AXA Insurance and technology firm CDL have launched the first Flood Re integrated solution available via a broker software house.
The new solution is live with iGO4 and will give brokers' greater choice in how they access Flood Re. CDL's solution connects to the Flood Re hub at point-of-quote, change of address and renewal, meaning an automatic instant decision can be made on whether the customer can access a Flood Re policy.
Flood Re is designed to increase the availability of affordable flood cover and, to date, the number of insurance providers signed up to support the most at-risk households represents 90% of the home insurance market. In the first six months after launch (to 4 October 2016), Flood Re backed 53,000 home insurance policies across the UK.
Carolyn Scott, Head of Household and Creditor, for AXA's personal lines broker business, commented: "AXA was one of the first insurers to go live with Flood Re and since then have been able to secure cover for more than 1500 households at risk of flooding.
"I am delighted that our hard work to make Flood Re more accessible to brokers is now paying off as this new integrated solution will increase the options of accessing Flood Re for the thousands of at-risk customers who use a broker to insure their home."
Andrew Creedon, Head of Client Relationships at Flood Re, said: "Flood Re has created a level playing field for new entrants and existing insurers in the UK home insurance market. We were impressed with CDL's positive approach during the development of their solution, and are delighted that Flood Re-backed products are now available through their systems."
Nigel Phillips, CDL Commercial Director, added: "This development marks an important step towards ensuring that household insurance customers are better protected against flood losses. We have worked closely with our industry partners to support the roll-out of Flood Re, and are confident that this solution will enable more at-risk households to benefit from the scheme."