Since our inception in 2015, Confidas has built strong relationships by bringing top quality service to our brokers and their customers. Part of that ability to work so well with you has been our stable capacity, unchanged since 2015.
However, the market has been in a state of flux for some time now and much change has happened; no doubt more is ahead of us all. Confidas are looking toward the best possible future to be able to support you and your clients, but against a backdrop of difficult results across DLG, UKI have made a strategic decision that they no longer wish to grow in the mid and high net worth broker distribution channel. With effect from 1st May 2023 Confidas will no longer write new business on any of our classes with UKI. From next week, all quotes underwritten by UKI will come with a “valid until” date of 30/4/23.
There is no immediate impact on the book that we currently underwrite for you, this will continue with UKI until 30th September 2023 at which point policies will transfer to our new capacity. Our intention is to keep the current cover enjoyed under the Max and Lux policies, and, other than the regulatory requirements, wording changes will be minimal. Our only change to the portfolio will be that Pet will no longer be included as take up has always been limited.
We are not yet in a position to announce who we will be moving forward with and this will lead to a break in Confidas quoting for new business. We intend to keep this period to a minimum as we finalise details with new capacity.
As usual, change brings opportunities. We are currently investing in new IT which will simplify enquiry input, create less referrals, offer quote indications and speed up interactions with us. Our goal is to make the new quote and buy system the portal of choice for brokers in the mid & high net worth market. This development will be ready to launch when we start writing business with our new capacity.
The New Business Team will be taking on new responsibilities until we need them back on the quote desk. Aaron has taken a key role in delivery of the IT development project, ensuring that what we deliver has our brokers at the heart of its creation. Both Nigel and Steph will, among other things, be helping out on our existing business portfolio and will no doubt continue speaking to you throughout.
The Confidas team remain committed to great service during the transition period and will work hard behind the scenes to make this seamless for you and your clients.
As soon as we are able to share more details with you, we will be in touch, but if you have any questions in the meantime I will be happy to answer them.
Kind regards
Paul Birch
Head of Confidas
