Insurtech ARMD expands into the broker tradespeople market
ARMD, an insurtech, has formed a managing general agent to target brokers interested in the £6.5bn UK tradespeople insurance market.
The firm has partnered with wholesale broker distribution platform Sparta Insurance Services for the MGA to provide a new product ‘ARMD Tools in Transit’ that gives 24/7 protection for tradespeople’s tools left in a van up to £10,000.
The insurtech believes this means it differs from other products that demand customers must empty their van every night.
Unlike its previous consumer launch that was backed by RSA, the broker product is backed by Lloyd’s capacity with Greenlight Re.
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