The UK government launched Flood Re to increase the availability of affordable home insurance for the estimated 350,000 households in flood risk areas, who tend to be subject to higher premiums and excesses. The scheme backed almost 130,000 policies in its first year.
With each of Ageas’s three home products being backed by the Flood Re scheme, at-risk House Guard, House Guard Prestige and House Guard Tenants Contents policyholders will all be able to benefit from affordable premiums and lower excesses dependent on their individual circumstances.
SSP connects to the Flood Re Property Data Hub to capture the council tax band and other relevant risk data. This is fed into SSP’s centralised rating, pricing and quotation solution, SSP Intelligent Quotes Hub, enabling the Flood Re premium to be considered with other risk factors in determining the overall home insurance price Ageas offers each at-risk customer.
Adrian Coupland, Customer and Marketing Managing Director at SSP said:
“I am delighted that Ageas has joined SSP’s Flood Re panel. Having another insurer on the panel provides at-risk policyholders with a wider range of Flood Re-backed policies to choose from, enabling these homeowners to shop around for the most suitable cover through the intermediated channel.”
Francois-Xavier Boisseau, Chief Executive Officer at Ageas said:
“As an original member of the Flood Re scheme, we understand the importance of a multi-distribution strategy to ensure all customers on all channels can access these policies.
“Our partnership with SSP means Flood Re-backed policies are now more widely available for the thousands of at-risk customers who insure their properties through a broker.”
Liz Mitchell, founder of insurtech start-up broker Flood Assist Insurance said:
“As a specialist flood insurance broker using the SSP platform, I am thrilled that Ageas has joined the panel of insurers. The great cover and first class claims service means I am so excited to have them on board.”
