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Deacon, specialists in insurance for private blocks of flats, part of Erinaceous Insurance Services is aiming to make life easier for Resident Management Companies (RMCs) by creating the sector’s first online direct-to-buyer insurance tool.
Launched in August, www.deacon-online.co.uk provides RMCs who prefer to operate independently with everything they may need, including arranging buildings insurance, public liability insurance for directors and officers, engineering and inspection insurance, as well as emergency assistance insurance. It also provides an avenue for the growing number of associations that are taking matters into their own hands and investigating their own insurance, thus reducing their insurance costs.
Andy Halstead, Managing Director of Erinaceous Insurance Services, of which Deacon is a trading brand, said: “Our market research suggests that just under a third of RMCs would like to buy the full range of insurance products online, but there is nowhere to do so. Also RMCs are investigating their own insurance deals because they believe they can get a better deal than their management company does. Deacon Online is designed to help both parties.”
Buying insurance for blocks of flats is generally considered to be a complex and difficult process, and is often bundled with the purchase of management services. Deacon Online simplifies the procedure and enables RMCs to buy the product they require.
Andy Halstead continued: “While trading with managing agents on behalf of RMCs continues to be buoyant, our market testing bore out the research – there are many RMCs who will embrace the online service. There are several benefits to buying insurance online such as convenience, speed of transaction due to our streamlined criteria that provides a quote in minutes, plus the freedom and cost benefit of buying insurance separately. We believe this could be the start of something larger in the industry.”