Flexible BCI launch at Expo

D&D Homecare is to launch its flexible building and contents insurance product at this year’s Mortgage Expo in London.

The flexible nature of the product means home buyers can mix and match options to suit their needs rather than paying more for additional options.

The company describes itself as a wholesaler, designing products for networks and brokerages which can either be marketed under own brands or D&D’s brand. Last year alone, it sold 30m in ASU premiums.

D&D Homecare already offers a similar flexible accident, sickness and unemployment product but for the past 18 months it has been developing a BCI product. For example, people can choose to have it either sum assured or bed rated.

Paul Thompson, managing director of D&D Homecare, says: “It’s revolutionary. This product allows the broker to provide for their customers’ needs. As we break them down into their component parts, with our products they choose the bits they want and offer relevant ones to to their customers.

Typically, policy holders for BCI have fixed elements that may include things that they don’t want. For example, they might not want the option of having their possessions insured away from home but if it’s fixed that way, they’re stuck with it.

With D&D’s BCI, home owners can choose what they want and the premium can be adjusted accordingly.

Thompson adds: “It’s the same with our ASU. If you take our basic product, the combination of options you can offer is like making 54 products available to your clients.”

The product operates offline and online so the moment the policy is uploaded you get instant acknowledgement and a copy of the policy schedule.