Product review: Management liability made easy

Product: ML5 – Management Liability Insurance

Underwriter: C-Quence 

Commission paid: Not disclosed

Coverage: Modular policy with covers for management liability, employment practices liability, pension trustee liability, crime, and cyber breach response. Modular in nature – so can create policy combinations to suit client needs rather than traditional siloed product lines. Policy documentation is auto-generated and reflects the specific choices made (bespoke wording). Supported by an endorsement library that seamlessly slots any amendments into the relevant policy section.

Minimum premium: £150

Excess: Variable within each module. Can be altered by the broker to meet client specific needs.

Contact: Stephen Muir, steve@c-quence.co.uk, 07882 826864

Key benefits

▶ Concise – significantly shorter than comparable policies.

▶ Broad policy coverage.

▶ Fewer exclusions, definitions and conditions make it easy to see what is covered.

▶ Easy to understand – considerable effort has been made to use normal English and avoid arcane insurance jargon.

▶ Client bespoke policies generated and delivered the moment the policy is bound.

▶ A customisable modular approach to policy wordings designed to help transform broker and client experience.

Verdict

Keeley Theron, commercial manager, SJL Insurance, comments: “The ever evolving needs of consumers has led InsureTech MGA C-Quence to develop an ML product which can be tailored to your customer’s risk profile. The underlying C-Q Elements platform simplifies and streamlines the process of quote-and-buy for brokers with features such as one click KYC, integrated back office and data analytics tools. Indeed, C-Q Elements has been developed through a collaborative broker feedback approach and, as such, delivers an insightful, efficient and intuitive platform from which brokers can transact, manage, compare and renew cover. 

“The policy documentation is supported by an endorsement library that seamlessly slots any amendments into the relevant policy section, allowing the policy document and the policy wording to be auto-generated and to reflect the specific modular choices made by the client. The documents and wording have also been simplified to make them accessible to policy holders.”

Overall rating: **** (4/5)

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