LMI Group launched its well-known comparison service LMI PolicyComparison into the UK market today.
Steve Manning representing LMI Group is attending the British Insurance Brokers Association ("BIBA") Conference where PolicyComparison UK is being shown for the first time and generating a great deal of interest.
Unlike an insurance aggregator site which focuses on the price of insurance, PolicyComparison ignores price and provides a detailed comparison of the features and benefits of each policy it compares. This allows the insurance broker to explain the cover afforded by the policy moving the emphasis away from price onto protection.
LMI believe that the most important contract a SME business owner enters into is their insurance policy. It literally transfers the risk, should something happen to the assets or income stream of the business from the owners and their family to an insurer. It is at claim time that the importance of the coverage is often discovered which of course too late.
PolicyComparison is also very useful for Insurers who wish to keep track of their product in comparison to others in the market as to the features and benefits being offered.
It is for these reasons that the vast majority of insurers and brokers in Australia and New Zealand rely on the service completing nearly 500,000 comparisons a year.
A team of industry experts headed by Peter Jenkins (General Manager) and Sharron Walker (Manager UK and Ireland)constantly review and update the comparisons.
PolicyComparison.co.uk joins BIcalculator.co.uk which was launched in the UK in 2011 and has been found to be of great benefit to brokers in understanding business interruption insurance and in calculating the correct sum insured for the individual policy chosen.
To learn more about either service available in the United Kingdom please email Steve.Manning@LMIGroup.com,