Motor is a surprisingly emotive class of insurance. Most of us have cars and regard ourselves as good drivers, so fleet clients often have strong views on the level of cover they need. Yet claims costs remain high and clients can be surprised by how high they can be - there really are no 'minor knocks' now.
That's why at Pen, we offer long term pricing stability to help clients avoid peaks and troughs in premiums. We achieve this by using a rating tool based on minimum exposure rates, adjusted to cover historic and predicted claims costs
Concentrating on underwriting performance we have grown steadily and are now writing in excess of £8M GWP. We attribute this to our expertise on the exact use of vehicles, gross vehicle weights of commercial vehicles and exposure to various driver profiles - and this is how we help our broker partners to grow their fleet business too.
We pride ourselves on being easy to do business with, and for fleet risks, we know that means speed of service, so we offer 48-hour turnaround on our exclusive quotes and same-day documentation. Plus, where you can help us understand the detail of the risk, we can offer bespoke pricing. Our policies are non-transferable which means that if your client goes elsewhere the policy won't transfer, providing your clients with an incentive to stay put.
And, with minimal administration fees and the majority of policies on a declaration basis, your clients will find it easy to do business with us too.
Our risk appetite is broad and includes niche areas such as Bus, Coach and Minibus. We are particularly competitive on fleets of 10+ car and LCV vehicles. We define fleets as five or more vehicles with verified CCE.
We don't cover classes where we can't add value so we exclude entertainment risks, skip hirers or self-drive hire. We have a limited appetite for haulage only considering smaller risks sub £25k GWP. Our colleagues in Pen High Hazardous will handle any haulage risks involving the carriage of hazardous goods
We favour risks with confirmed fleet history so provision of detailed risk information is important.