Brokers can boost premiums with a green option

Brokers can boost premiums with a green option

Brokers can boost premiums with a green option

Going green is a favourite tactic many companies use to capture client interest, and for insurers, it has been a tricky sell – but one company has found a way, allowing brokers to benefit too.

Aviva Canada has introduced Green Assure, a new insurance enhancement that enables customers to replace their damaged or destroyed property with energy efficient and environmentally friendly products.

“Many of our brokers and customers have expressed interest in environmentally-friendly replacement options,” says James Russell, chief underwriting officer for Aviva Canada. “Our global commitment to sustainability, includes minimizing our own environmental impact and encouraging others such as our vendor partners to do the same.”

The concept behind Green Assure is that for $25 per year, you can have $25,000 additional coverage (with the option of $50 for $50,000 more). With that extra coverage, replacement options can include high efficiency furnaces, HVAC systems, insulation, windows and doors, or the option of zero volatile organic compound paint or certified sustainable flooring products.

“It has generated a lot of questions from some brokers via their development team, so it has definitely generated a buzz,” says Barry Owen, senior product manager at Aviva Canada. “We started to look at this product some time ago, as part of our standard product development process. So we reached out to our customer panel, and asked them if they would purchase a product like Green Assure. We got a very positive response to that.” (continued.)


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