An innovative new smartphone application specifically designed to secure professional indemnity insurance at the click of a button has been launched by an insurance broker recently and seems sure to gain ready approval by professionals and tradesmen.
The new app allows IT professionals and others to obtain PI insurance quotes and purchase insurance cover by using their smartphones. The idea is the brainchild of insurer “Professional Insurance Agents” who have arranged a contract with HCC International to help with distribution. The app will be able to be downloaded using Androids and Blackberries.
The company has also signed a contract to distribute PI insurance and PI cover for tradesmen using the app. Both of these two contracts are expected to be available commercially early this year.
The chief web officer at the company commented that the app was launched after a survey of a key retail chain’s sales being made through the use of smartphones. The idea was that if so many sales can be realised through a smartphone friendly app then why not sell PI insurance through the same way?
The thinking was that those people who found gadgets easy to use like IT professionals would find the facility beneficial and would pass on their new found interest to friends. The app would be useful to both tradesmen and professionals who often either need to have indemnity insurance cover for a particular job or need to show they have cover to clients. Being able to arrange cover over the smartphone quickly and easily would make it a very useful tool.
PIA, the app creator, is already in talks with four more large insurance companies expecting to complete deals in the first quarter of 2012. The senior underwriter of one of the companies commented that the new app from PIA made obtaining suitable PI insurance cover easy and fast: “a quote and payment for cover could be made in a matter of minutes”, it was said.
Although the app is designed with PI insurance particularly in mind, PIA says that there is no reason why it cannot be adapted in the future to cover other aspects of insurance equally effectively.