Insurtech firm Orion180 has launched a brand new insurance coverage product, FLEX House Insurance coverage, in 14 coastal counties throughout Florida.
The product is designed to supply householders customisable coverage choices, permitting them to pick protection ranges and deductibles that align with their threat profiles, the corporate stated in its press launch.
The product permits policyholders to switch their protection by adjusting base perils, deductibles and co-pay choices.
The options embody a claims-free bonus, which may return as much as 100% of the first-year premium to householders who stay declare free, the corporate claims.
Moreover, it features a rate-lock characteristic, which goals to assist householders handle their insurance coverage prices by stabilising premiums over time.
The product might be accessed via a community of insurance coverage brokers throughout Miami-Dade, Broward and Palm Seashore, amongst others.
The protection choices embody perils similar to hearth and lightning, and might add safety towards wind, storms and water injury.
The product additionally options roof protection, enabling householders to decide on between alternative value worth (RCV), precise money worth (ACV) and acknowledged worth.
Orion180 CEO Ken Gregg stated: “Normal residence insurance coverage insurance policies are outdated for in the present day’s client, and plenty of time don’t align with the person’s funds and curiosity. FLEX provides householders the facility of selection. The coverage is versatile and permits shoppers to decide on coverages that match their particular person wants and funds.”
In February, Orion180 appointed Chris DiMartino as its new chief underwriting officer, tasked with overseeing underwriting, product growth and administration for the corporate’s surplus and private traces of enterprise.
Orion180 operates via two entities: Orion180 Insurance coverage, a surplus traces insurance coverage firm, and Orion180 Choose Insurance coverage, an admitted insurance coverage firm.
The operator utilises its proprietary MY180 platform, together with third-party integrations, to facilitate coverage administration for its prospects.
