The companies have linked up to develop the app to allow Keychoice’s 800 plus members offer it as an add-on to personal and commercial policies.
Accessed via an iPhone or Android smartphone app or via a PC, Keyasset allows policyholders to create a secure online register of their home or business contents. By simply taking digital images of rooms, valuables and any relevant documentation, the client can create a comprehensive asset record which in the event of a claim allows them to simply print a quick and comprehensive report for their insurer.
The system also calculates the value of their assets and monitors this against the total sum insured to avoid under-insurance.
Research undertaken by Parago showed that over 90% of householders would not be able to make an accurate home contents insurance claim in the event of a major fire, theft or flood. It also showed that on average policyholders were under-insuring their contents by 30%.
Tim Roots, managing director at Parago Software said: “To overcome these issues we have been working with Keychoice to deliver a quality product and a first-class level of service that will benefit both Keychoice brokers and their clients. Brokers specialising in high net worth and commercial policies can also provide a service behind the product, and larger brokers have the option to brand the system.”
Derek Findlayson, commercial director at Keychoice added: “Research has shown that a large number of householders don’t hold enough cover to make a full and accurate claim and anyone who has experienced the heartbreak of a major claim will appreciate how stressful it can be. Through Keyasset our brokers can help their clients to avoid this and speed up the claims process by verifying their claim quickly and comprehensively.
“Parago has demonstrated they not only have a robust system and processes in place but a proposition with revenue opportunities for our members and added peace of mind for their clients.”
About Parago Asset Management Software
Parago specialises in the development of asset management software and solutions for insurance, education, public sector and professional services.
The company has produced an easy-to-use product that can be used in the home and which helps households calculate and then update the value of their belongings and use this in the event of an insurance claim. Householders can compile a virtual catalogue of their home contents, such as big-ticket electrical items, antiques, original paintings, clothing, furniture and jewellery, with the aid of icons – building a virtual image of their home.
More than simply a contents calculator, the system has been launched to ensure that everyone insures the true value of their home in a bid to combat claims disputes.
For more information please visit www.parago.co.uk
Established in 1994 by SSP, Keychoice delivers products and services to members and assists them in their drive to make their business more profitable. Its product range spans personal, commercial, support services and technology, providing competitive advantage through specially negotiated products and schemes.
Members are also able to access exclusive products, including commercial combined, package and property owners via Keychoice Underwriting, an independent commercial underwriting agency.
Membership extends to over 800 members who control in excess of £2bn of commercial lines and £1bn of personal lines gross written premium (GWP).
For more information please visit www.keychoice.com.