Your Q & A session with Stride MD Richard Lovegrove, who discusses the thinking behind the new MGA, Portus Underwriting, and what Stride Underwriting has in store for brokers in 2014.
Q What is Portus Underwriting and how can it help brokers?
A Portus Underwriting is a new Property Owners facility underwritten at Lloyd’s through Syndicate 2007, which is managed by Novae.
The aim is to offer our brokers an additional market for their clients’ requirements, offering high quality all risks cover with a really strong policy wording.
Stride will administer claims in-house and the facility is exclusive to our own brokers and agents, giving them a competitive edge that mainstream insurers and networks cannot provide.
Q What is the security behind Portus Underwriting and how can brokers recommend a new insurance brand to their customers?
A We’re delighted to announce that Stride has recently become a Lloyd’s coverholder and that Novae is managing the syndicate behind Portus. Through Portus, brokers are placing risks with Lloyd’s, the oldest and most stable insurance market in the world.
Novae Group is a publicly quoted company established in 1986 with a GWP of £590 Million and an excellent reputation for corporate governance and niche underwriting skills. Stride recently celebrated 40 years in business, so none of the companies behind Portus are new and the ultimate security for all claims is provided by the unique and enduring strength of the Lloyd’s market.
Q What are Stride Underwriting’s plans for the broker market in 2014?
A First and foremost, we want to get out there and talk to brokers in person, so we’ll be exhibiting at BIBA in Manchester and the Broker Expo events in Ascot and Coventry this year. Our Account team will be on the road from Aberdeen to Exeter all year round, talking to brokers about what they need to win the business, be it rates, service or specialist cover.
We are launching further enhancements to our Broker Portal this year such as instant documentation and online quotes for a range of supporting products. Look out for Home Emergency cover, Tenants Contents, Legal Expenses and Rent Guarantee insurance all going live online during 2014 to complement our core Property Owners offer.
One thing that won’t be changing is the high standard of service we offer our brokers – we set the bar high and intend to keep it there.
Q What about professional development – any news on the Aldermanbury project?
A Stride is committed to developing professional standards throughout the business and I’m delighted to say that we have had more staff taking, and passing, CII qualifications in the last 12 months than ever before as we work towards meeting the Aldermanbury Declaration criteria.
Q Any surprises at BIBA this year?
A We’re running a dice game on the stand where everyone is a winner. We’re giving away a luxury hotel voucher, bottles of Champagne and lots of other prizes, so roll the dice and try your luck.
Keep an eye out for our new video too, which we’ll be playing on the stand – we look forward to seeing you there.
Find out more about Stride Underwriting broker services