Fortis broker partners take part in mini-fleet product trial
Fortis Insurance has begun piloting a new mini-fleet product among 60 of its broker partners as part of its commercial lines growth strategy.
Fortis Fleet Guard will offer standard motor fleet coverage for small to medium-sized enterprises including personal accident, broken windscreens and glass, liability to third parties and medical expenses.
The insurer has been soliciting feedback on the proposition and rating from its pilot participants and plans to expand the test programme next month, with the aim of rolling out the product to all of its broker partners in the fourth quarter of the year.
Mark Cliff, managing director of Fortis, said: "Having a strong position in the commercial motor market, this is a natural area for us to expand into and fleet offers a big opportunity for us. We expect to be in the top five commercial motor providers by the year's end."
Fortis has also been seeking to develop a fleet platform with Acturis and is currently in the process of designing technical specifications and risk-related questions for the proposition. Once live, the system will be available for use by other insurers offering fleet products through Acturis.
While motor development has been at the core of the insurer's commercial strategy, Fortis has also been redeveloping its full commercial range for electronic trade. It will be replicating the process used for launching its personal lines products electronically and has several live for new business already.
"The hope is to extend our reach to brokers we have not worked with before - ones that are predominantly commercial brokers and have not been familiar with Fortis' commercial offerings. This has been working well with our personal lines partners that are looking for commercial business," Mr Cliff explained.
Fortis has been looking into other new product launches for 2009, although it would not be drawn on specifics. The company also has its sights set on developing a presence in the contractor's arena in 2010.