Xbroker has extended its panel of capacity providers to include Alpha Insurance A/S in collaboration with Swiss Re.
The new capacity enables Xbroker, part of the Moorhouse Group, to expand its motor offering to brokers to include motor fleet for self-drive hire, haulage and couriers. The new capacity fits with Xbroker’s strategy of expanding its range of innovative insurances to brokers, particularly in underserved areas such as courier.
Xbroker is also in the process of recruiting a senior motor fleet underwriter to help administer the new capacity. Further Xbroker expansion is planned with the launch of a range of new products over the coming months.
The new capacity has been added at a time when the motor fleet market remains immensely competitive. While Xbroker does not compete with the composite market for standard car and van business, the Xbroker Motor Fleet product allows brokers direct access to an underwriter to place risks that would otherwise go into the London market. This allows brokers to develop a much closer relationship directly with the underwriters.
Karl Railton, head of underwriting and propositions at the Moorhouse Group said: “Joining forces with Alpha and Swiss Re will enable us to better target risks within motor that brokers often have difficulty finding a market for. Blending our specialist underwriting experience, the high degree of flexibility Alpha provides and the strength of Swiss Re we are able to provide a competitive and sustainable market to brokers for niche motor fleet risks.”
