Update on Ageas eTraded new business
Changes with effect from 1 September 2022
18/07/2022
When we acquired the renewal rights to the Ageas UK Commercial book of business, we explained that we were looking to migrate as much as possible to AXA Insurance.
We said at the time that our goal was to make this transition as simple and straightforward as possible for you, our customers and our people. I’m pleased to say that we are well on our way to achieving this as we progress through various processes to ensure a smooth migration journey of the business over this period.
There will be a more detailed communication around this which will clearly define specific routes to market as soon as we finalise them and you can rest assured that we will keep to our word of ensuring that all changes will be communicated in advance, with plenty of notice.
In the meantime, I wanted to write to you all today to talk about eTraded new business placement and how we can help support you. The intention is to switch off all Ageas eTraded commercial products for new business from 01 September 2022, you will, of course, receive a notification via imarket or the Ageas Extranet confirming this should you try to quote or bind new business with an effective date on or after 01 September 2022 and this message will also direct you to AXA to obtain a quote.
Our suite of SME eTraded products is designed to be traded digitally, offering you fast, comprehensive and competitive cover at the touch of a button. Each have flexible options so your customers can pick and choose the cover they need, safe in the knowledge they have quality cover from a trusted provider. You can access our extensive range of products either through our dedicated Connect eTrade webpages or via imarket.
Key Milestones for Ageas new business quotes
- An eTrade quote with an effective date before 01 September will continue to quote and a guarantee* period will operate.
- A revised quote on an eTrade quote that is unexpired (still in the guarantee period) will allow as long as the revision is processed before 01 September 2022 and the effective date is not changed to on or after 01 September 2022.
- If there is an unexpired quote that you attempt to put on cover on or after 01 September 2022 the system won’t allow it.
- An eTrade quote on any Ageas product via Imarket or Extranet with an effective date on or after 01 September 2022 will decline.
*The Ageas quote guarantee period is usually 60 days, this however, will decrease by a day at a time from 02/07/22 to ensure cessation of new business placement by 01/09/22.
For any specific queries relating to eTrade new business placement, please don’t hesitate to reach out to your usual relationship contact who will be happy to assist you.
Cathy Taylor
Business Director
