UK Broker, The Insurance Partnership, is the latest to sign up to LMI’s BIcalculator.co.uk.
The product is a specially designed service for the UK market and provides ‘smart form’ technology to over 50 UK business pack policies. It is based on the successful format of LMI BIcalculator, which was first introduced into Australia in 2006 and is now marketed and used in 6 countries.
Today, Steve Manning, head of LMI BIcalculator along with UK agent, Tim Mullen, of Claims Advantage attended the offices of The Insurance Partnership to train staff from all their offices on how to get the most out of this powerful online service.
Besides assisting the Broker in not only selling business interruption insurance, it also provides an easy-to-follow question set, which calculates an accurate sum insured for the particular business interruption cover selected. The service also provides protection to the broker against possible PI claims against them. The power of this is appreciated when you consider that with tens of thousands of calculations completed in 6 countries, no Insurance Broker using the service has been successfully sued on a business interruption issue. In fact, the output from the service has been used to successfully defend actions against brokers.
LMI BIcalculator.co.uk is not the only product to be developed for the UK Market, with LMI Group’s flagship product LMI PolicyComparison now being rolled out in the UK. The product will be featured at this year’s BIBA Insurance Industry Conference.