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Press Release
19 June 2006
Assurant Solutions Creates the UK’s First
3 and 6 Month Income Protection Product
Launched via new online provider, AntInsurance.co.uk
Assurant Solutions has created a new age-banded income protection product
for AntInsurance.co.uk that for the first time provides customers with
3 and 6 months cover as well as the 12 month industry standard. Launched
today, AntInsurance.co.uk offers the cheapest online income protection
on the market.
Pam Needham, Director of AntInsurance.co.uk, comments: “Our research
revealed that two thirds (63%) of unemployed people find work in under
six months, and so we decided to build
a proposition that would allow consumers to pay for cover that they needed
rather than for something that they would be unlikely to use. We wanted
to cut the frills and the fanfare to offer plain and simple value for
money.
“Given its track record of creating flexible insurance products that
are focused on meeting individual customer’s unique circumstances,
we felt that the team at Assurant Solutions was the logical underwriting
partner to approach. We’re delighted with the range of income protection
options that Assurant Solutions has developed, which will allow AntInsurance.co.uk
to deliver affordable and valuable protection to UK consumers.”
Assurant Solutions has designed and underwritten the product on behalf
of AntInsurance.co.uk and will be handling the claims and administration.
Assurant Solutions is a specialist in creating insurance products that
protect UK consumers’ most valuable assets – their income, health,
home and possessions.
This innovative income protection product is accessed via a simple one-page
quote engine on AntInsurance.co.uk, generating tailored quotes in just
20 seconds or 10 clicks of the mouse. The flexibility that Assurant Solutions
has built in to the product range allows consumers to mix and match accident,
sickness and unemployment cover with different benefit periods according
to their needs, circumstances and budget. Every policy has back-to-day
one cover with a 30-day qualifying period.
Creating added value for the customer has been at the centre of the proposition.
Assurant Solutions and AntInsurance.co.uk have worked together to introduce
two innovative return to work features to bring further value to the cover
provided:
1. ‘Return to Work’ benefits help customers ease themselves
back into work for up to three months in any 12-month period after any
illness or accident by compensating them for the financial shortfall if
they return to work part-time on a reduced salary.
2. The ‘Temporary Return to Work’ feature is designed for customers
receiving unemployment cover who would like to undertake temporary work
for up to six months. The policy will not pay during the period of employment,
but once the temporary employment concludes and the customer re-registers
with the Job Centre Plus, it will continue payments as if there had been
one continuous claim.
Ian Moffatt, Sales & Marketing Director at Assurant Solutions, said:
“Assurant Solutions is bringing a new breed of protection products
to the market that will bring about a sea change in our industry. Following
the introduction of our innovative new Matrix range of mortgage payment
protection products, our specialist team of actuaries and underwriters
have successfully developed an income protection product which puts the
customer’s needs at the heart of the underwriting process. We’re
delighted to work with AntInsurance.co.uk and help them bring a fresh
new option to UK consumers, allowing them to choose a solution that will
protect their own individual lifestyle in times of need.”
For further information, contact Lesley Russell on 07815 778038 or
email: lesley@spotlightcomms.co.uk.
Note to Editors:
About Assurant Solutions
Assurant Solutions is part of Assurant, a premier provider of specialised
insurance products and related services in North America and selected
other markets. Assurant is traded on the New York Stock Exchange under
the symbol AIZ and has approximately $US20 billion in assets and $US7
billion in annual revenue.
Assurant Solutions companies develop, underwrite and market niche insurance,
extended service contracts and other risk management solutions in collaborative
relationships with leading financial institutions, retailers, and automobile
dealers, utilities and other entities. Principal lines of business include
debt protection administration, credit insurance, warranties and extended
service contracts on appliances, consumer electronics, automobiles, recreational
vehicles and boats. They serve clients and their customers throughout
North America, the Caribbean and selected countries in South America and
Europe, including the United Kingdom, Denmark and Germany.
Visit www.assurants solutions.co.uk
About AntInsurance
AntInsurance.co.uk is a newly launched online income protection insurance
company. It offers affordable and flexible income protection for any financial
outgoing from a mortgage, to a car loan, to school fees. It is the only
online insurance company to offer income protection for short periods
of time: three or six months, as well as the industry standard of 12 months,
and choice from a combination of accident & sickness and/or unemployment
cover. AntInsurance.co.uk is part of FIUK.com Ltd, an established and
successful provider of creditor insurance since 2000.
Visit: www.antinsurance.co.uk
[1] Datamonitor 2006
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