20 Apr 2016

Aviva, which insures one in four UK homes, has relaunched its high net worth division to offer brokers a dedicated and bespoke expert underwriting service for this growing group of customers.

Aviva Private Clients, the new division responsible for the insurer's high net worth products, will provide a dedicated team of regionally-aligned underwriters and will be led by Adam Beckett, managing director for Aviva Private Clients. The suite of Distinct products will be upgraded and expanded to include flexible and tailored cover as well as a bespoke claims service with a dedicated claims adviser for each client.

The high net worth and mass affluent insurance markets have grown over recent years and are set to increase further; exceeding £750m and reaching nearly a third (29%), of the population by end 2017.1 Aviva Private Clients will help the insurer to grow its high net worth business and become a major player in the mass affluent market as well as high value high net worth.

Commenting on the relaunch, Adam Beckett, the new managing director for Aviva Private Clients, said: 'Aviva has long had a presence in the high net worth sector and a desire to be market leaders. That desire is stronger than ever which is why we're making changes to help achieve our ambition of being a real competitor in the market - by offering our brokers a flexible and expert service from a name they can trust.

'Aviva Private Clients will give our high net worth proposition the focus it needs to flourish while providing the flexibility to allow us to be a true lifestyle underwriter. We'll be using our underwriting tools as a guide and not a rulebook, and by doing so we'll make it as easy as possible for brokers to do business with us.'

As part of the relaunch of Aviva Private Clients, the Distinct 75 and 150 home insurance products are being upgraded to include:

  • No upper limits for sum insured
  • Warranty free, worldwide, all risks cover
  • Access to a dedicated claims adviser and specialist suppliers
  • Trace and access cover up to buildings sum insured
  • Commercial holiday lets in the UK and overseas
  • Cover for visitors' belongings, business property, outdoor items and student belongings
  • Residential care and trauma covers
  • Home emergency service
  • Identity fraud protection and assistance service
  • Personal lawyer cover
  • Optional cover for small craft, travel and caravans

The new Distinct motor insurance product will now include:

  • All vehicle values
  • Three year new car replacement
  • Full indemnity settlement
  • Multi-vehicle

The new Distinct products will be available from 20 April. For more information brokers should contact their Aviva sales manager or call 0800 158 2158 (home) or 0800 158 2609 (Motor).

Ends

Media enquiries:

Liz Kennett 01603 685461/07800 692675 email: liz.kennett@aviva.com

Notes to editors:

1 - mass affluent (>30k liquid assets) and high net worth ( >£750k liquid assets) forecast
to reach 29% of population by end 2017. Insurance market for HNW forecast to exceed £750m by end 2017. Source: Datamonitor wealth report

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Aviva plc issued this content on 20 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 April 2016 11:03:31 UTC

Original Document: http://www.aviva.com/media/news/item/aviva-upgrades-high-net-worth-division-with-launch-of-aviva-private-clients-17614/