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Brokers can now quote and bind construction insurance online via www.onetmk.com
London, 10 May 2017: Tokio Marine Kiln (TMK), the leading international specialist insurance business, has added Construction to its One TMK broker portal.
Believed to be the first bespoke construction insurance product of its kind that can be underwritten through a fully automated process, the platform provides an efficient way for brokers to access specialist coverage from wherever they are, subject to meeting regulatory requirements and agreed business terms with TMK.
Through One TMK, brokers are invited to answer a limited series of questions to generate an immediate quote and tailored wording, enabling them to bind construction risks in as little as seven minutes. Clients are offered a starting limit of £3.5m for projects lasting up to three years in the UK and Republic of Ireland.
The One TMK portal also features TMK’s Unmanned Aerial Systems product and Cargo10, which enables brokers to secure cargo insurance coverage after completing just 10 questions.
Steven Norcliffe, Head of Construction at Tokio Marine Kiln, said. “We are thrilled to be responding to broker and customer feedback by offering our specialist construction product online. Enabling brokers to quote and bind construction risks online will speed up transaction times, deliver cost savings and enable us and our brokers to provide a better service for customers.
“Initially we are offering coverage for short period projects in the UK and Republic of Ireland with a starting limit of £3.5m, but we will look to extend these as the class develops online. Outside these parameters, clients can continue to access our specialist insurance offline in the usual way.”
Tom Hoad, Head of Innovation at Tokio Marine Kiln, added: “Adding another class to the online portal demonstrates our continued commitment to broadening our range of products online and meeting the changing needs of our brokers and clients.”