21st August 2017

Ageas, one of the UK's leading general insurers, has gone live with a Flood Re solution developed by insurance technology provider CDL, in a move which extends broker access to the flood reinsurance scheme. The insurer's home products, House Guard Extra and House Guard Prestige, are now backed by Flood Re through the CDL solution.

François-Xavier Boisseau, Chief Executive, Insurance at Ageas UK, commented: "As an original member of the Flood Re scheme, we are delighted that our Flood Re-backed home insurance products are live with CDL, enabling brokers to give more customers in flood-risk areas access to the scheme."

CDL's solution connects to the Flood Re hub at point-of-quote and change of address, meaning an automated decision can be made in real time on whether the flood peril can be ceded to the reinsurance scheme.

Andy Bord, Chief Executive at Flood Re, said: "Boosting market access to Flood Re is one of our key priorities, and we are pleased that CDL and Ageas have taken this step to further extend access to the benefits of the scheme to brokers and their customers."

The Flood Re scheme increases the availability and affordability of home insurance for households in flood risk areas. It has backed almost 130,000 policies in its first year. The scheme also provides information to increase consumer understanding of flooding and how they can reduce their level of risk.

Nigel Phillips, Commercial Director at CDL, added: "Our Flood Re solution enables insurers and brokers to further increase the availability of affordable cover for homeowners at risk of flooding. We're committed to driving forward the industry's agenda on flooding, and are excited to be working with Flood Re and our insurer partners to ensure that every customer living in a flood-prone area is supported by the scheme."