Keychoice launches home and business contents valuation app
Keychoice, the UK’s largest community of independent insurance brokers, have launched Keyasset, an innovative valuation application (app) in partnership with Parago Software, a leading provider of asset management systems.
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.”