Asset Protection Cover is becoming increasingly popular within the current market. Although principally sold in the motor market as an additional revenue source, it is developing as an attractive product to consumers who are looking for that extra bit of protection.
Areas of particular interest:
Guaranteed Asset Protection (GAP)
Indemnify the Insured against the outstanding balance of the lease or finance in the case the asset is written off. These products are generally sold through wholesalers and retailers.
Return to Invoice (RTI)
Bring the customer back to the position they first were when they bought the vehicle in the event that the vehicle is written off.
An exotic insurance product which has been used in the past to securitise finance and leasing company's balance sheets in the event that the assets fall in value.
Providing schemes for various products from bicycles to cash tills all of which have in common high volume sales and small ticket premiums.