Axa launches products on online commerical insurance market

Online commercial insurance marketplace Powerplace is now the new home of Axa Commercial Lines and its selection of professional liability insurance products.

Axa Commercial Lines commercial director, Alasdair Stewart,  commented on the new move, remarking that online professional indemnity distribution has become more and more important in regards to commercial lines.  Mr Steward specifically pointed out the market’s SME end, where competition can be quite fierce at times

Powerplace has done a truly outstanding job at crafting a solution that enables it to allow brokers to work more efficiently, said Mr Steward.  The commercial director expressed delight to be included within its marketplace.

Both the Axa professional indemnity and tradesmen policies are currently available to persons who are self-employed and also to smaller firms with less than eight staff members and a £500,000 (or less) turnover.  Trades are rated on an individual basis, and in the event that a client has a need for taking on temporary staff to accommodate busier periods, insurance cover is provided automatically for as many as 50 man days in any period of insurance.

Commercial director for Powerplace, Nick Giddings, also remarked that being able to launch the professional liability and tradesmen products strengthens the firm’s panel across these separate lines of business is quite beneficial to further growth.  Calling the current relationship with Axa Commercial Lines  just the starting point, Mr Giddings said he was looking forward to increasing the number of Axa products to Powerplace’s marketplace over the next few months.

No further indications of a timetable were given in regards to more of Axa Commercial Lines’ products being made available through Powerplace.

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