Pen Evolve
Product activation requests
Contact our team with any activation requests and we will happily talk you through the Pen Evolve proposition and activation process.
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We are delighted that our insurer hosted pricing (IHP) non-standard household product 'Pen Evolve' is now available to brokers with a live Pen agency who trade on one of the following software houses:
• Transactor
• Applied Systems
• CDL
Pen Evolve is supported by four separate policy wordings called
• Your Home,
• Holiday & Second Homes,
• Landlord, and
• Unoccupied.
Our Unoccupied product can support 3 levels of cover, Bronze, Silver or Gold.
The occupancy status determines which policy wording is applicable (please refer to the endorsements on the quote for details).
Depending on software house functionality the policy wording is interchangeable midterm, eliminating the need to cancel and replace cover. Simply update the occupancy status and Pen Evolve will confirm if cover can continue.
Our investment in data enrichment will enable us to provide our most competitive premium in real time with credit score and CUE checks undertaken at point of quote.
Who Qualifies?
Pen Evolve is a non-standard household product that can also quote standard cases, and we can considering quoting for risks that many e-traded systems typically decline.
Examples include:
- homes with past subsidence
- grade 2 listed properties
- non-clerical business use
- non-standard wall and roof constructions (but not thatch)
- 100% flat roof
- customers with adverse financial history
- criminal convictions
- building works up to £75,000.
Many of these risk features will auto rate, giving you an instant decision on the price, terms and the policy wording available.
If a referral is needed our in house underwriters are at the end of the phone making it quick and flexible to trade with Pen.
What's covered?
Pen Evolve is a 12 month policy suitable for homes in England, Wales and Scotland.
Cover is available for buildings only, contents only or buildings and contents.
Buildings will always be £1,000,000 as the policy is blanket based and this includes up to £50,000 for outbuildings (limited to £25,000 per outbuilding)
If available cover for specified valuables, personal possessions and pedal cycles are in addition to the contents sum insured
Contents is also blanket based and the sum insured and cover available is dependent on the occupancy status:
- Your Home = £75,000
- Holiday & Second Home = £40,000
- Landlord = £25,000
- Unoccupied = £25,000
Pen Evolve is not full cycle EDI, broker led renewals are supported by some software houses.
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