Source taps niche markets with new Plum platform

Ryan Fowler

August 4, 2016

kevin paterson

Source Insurance has added specialist home insurer Plum Underwriting to its online platform. Built in-house by the software team at Source the additional product gives instant quotations, offering brokers a solution for clients with unusual circumstances..

Aimed at covering risks that have previously proved difficult to insure, the platform displays quotes for those with circumstances ranging from previous bankruptcy orders and poor credit history, criminal convictions, unoccupied property and those requiring cover for high risk valuables.

Kevin Paterson (pictured), managing director of Source Insurance, said: “Our relationship with Plum goes back a long way. We worked with them to build an engine that offers greater competitive choice, the first choice, and best choice for difficult insurance spaces.

“Most of the brokers who use it are mortgage brokers. They used to walk away from difficult or niche cases, but now they don’t have to.”

Simon Lewer, business development director of Plum Underwriting, added: “We are delighted to be working with Source Insurance, who have a strong reputation and proven track record in this area with their highly efficient distribution model.

“We’re pleased that brokers of Source Insurance now have a solution to risks they would normally have to decline.”