Open GI and Covéa Launch New Digital Property Owners Insurance Product

Quick Summary

Open GI and Covéa have launched a new Property Owners insurance product designed for the UK SME market. This digital-first solution allows brokers to cover up to ten residential or commercial properties under one All Risks policy, streamlining management through Open GI’s SME Commercial Lines platform and imarket.

How Does the New Property Owners Insurance Product Benefit Brokers?

The Property Owners insurance solution is engineered to simplify the placement of complex risks by offering a single, comprehensive policy for diverse portfolios. Brokers can now manage up to ten different properties - ranging from professional lets and retail units to offices - within a unified digital workflow. This integration into Open GI’s SME Commercial Lines platform ensures that brokers can provide rapid quotes and robust coverage without manual overhead.

• Commercial buildings cover up to £1,000,000.
• Property Owners Liability protection reaching £5,000,000.
• Loss of Rent coverage at 33.3% for residential assets.

“Working in close partnership with Open GI, we’ve combined flexible, comprehensive cover with a simple digital trading experience, helping brokers place and manage property risks with confidence.” said Keith Hector, Commercial Lines Director at Covéa Insurance.

What Specific Risks Does This New Policy Address?

Beyond standard fire and flood protection, this Property Owners insurance product includes high-value extensions that target modern landlord concerns. The policy features specialized risk mitigation for scenarios such as the unauthorised use of utilities and malicious damage. By front-loading these extensions as standard, Covéa and Open GI are reducing the need for complex add-ons, allowing for a more efficient checkout process for the broker and the end client.

• Contract Works coverage of £250,000 for property improvements.
• Theft of fixed fabric of buildings covered up to £25,000.
• Malicious damage by residential tenants protected up to £5,000.

“Open GI and Covéa have been working together for nearly two decades and the launch of this new Property Owners product is the latest output of this strategic relationship.” said Nick Giddings, Director of Partner & Distribution at Open GI.

How Does This Strengthen the Open GI and Covéa Partnership?

This launch represents the culmination of twenty years of collaboration between the two firms, focusing on insurer hosted pricing and data-driven performance. By leveraging Open GI’s 45 years of innovation, Covéa can distribute its award-winning SME proposition to a wider network of brokers instantly. The move reinforces the industry shift toward automated commercial underwriting, where speed of service is as critical as the depth of the coverage itself.

FF NEWS TAKE:

This partnership moves the needle by bringing high-limit commercial cover into a streamlined digital environment. The Property Owners insurance market has often been fragmented; by allowing ten properties on one policy with £5m liability, Open GI and Covéa are directly addressing the efficiency gap in SME broking. It is a sophisticated play that proves legacy partnerships can still drive meaningful digital transformation in the UK general insurance sector.