ARMD, the award-winning InsurTech dedicated to serving the underserved tradespeople market in the UK, has announced the launch of a new insurance product aimed at providing comprehensive protection to tradespeople and opening doors for brokers and intermediaries. The product, known as “ARMD Tools In Transit”, offers up to £10,000 coverage for tools left securely in a van 24/7. This innovative offering not only fills a significant gap in the market but also provides a much-needed solution for tradespeople who have been historically underprotected.
The Underserved Tradespeople Market
For far too long, tradespeople in the UK have faced an uphill battle when it comes to insurance coverage. Van break-ins have been rampant, with a staggering rate of one break-in occurring every 15 minutes. This alarming statistic highlights the urgent need for a reliable and comprehensive insurance solution tailored to the needs of tradespeople. ARMD recognized this market gap and set out to change the landscape by offering a complete insurance protection package that addresses the specific challenges faced by tradespeople.
ARMD’s Insurance Protection Package
At the core of ARMD’s offering is a comprehensive insurance protection package that combines proactive protection and rapid reimbursement. A groundbreaking approach, this package aims to revolutionize the way tradespeople safeguard their livelihoods. By addressing both prevention and compensation, ARMD provides a holistic solution that significantly minimizes the financial burden and stress associated with theft or damage to tools.
Partnership and Underwriting Capacity
ARMD operates as a Managing General Agent (MGA) and has partnered with Sparta Insurance Services, harnessing their expertise and underwriting capacity at Lloyd’s. This strategic partnership enables ARMD to leverage the extensive resources and experience of Sparta Insurance Services, ensuring the highest level of coverage and support for tradespeople.
Benefits for Tradespeople and Brokers
With the launch of “ARMD Tools In Transit”, trade businesses can finally obtain the protection and peace of mind they have been desperately seeking for years. This comprehensive insurance package not only safeguards their tools but also provides a solid foundation for the future growth and stability of their businesses. Furthermore, brokers can now tap into a broader customer base by offering ARMD’s innovative insurance products. This partnership with ARMD allows brokers to enhance their service offerings and cater to the unique needs of tradespeople.
“ARMD Tools In Transit” Product Features
The “ARMD Tools In Transit” insurance product goes beyond traditional coverage by offering a range of features specifically tailored to tradespeople. In addition to up to £10,000 coverage for tools left securely in a van, the product includes an app-based tool inventory. This innovative tool inventory system allows tradespeople to meticulously log their tools and receipts, streamlining the claims process and providing an additional layer of protection against theft and loss.
Additional Offering: ARMD Guard
As an added layer of protection, ARMD also offers ARMD Guard, a smart alarm and vehicle tracker that is seamlessly integrated with the ‘ARMD Tools In Transit’ product. ARMD Guard provides instant notifications to users’ mobile phones if their van or tools are compromised. This real-time alert system empowers tradespeople to take immediate action in case of theft or unauthorized access to their tools, minimizing potential losses and ensuring a swift response.
ARMD is thrilled to be partnering with Sparta Insurance Services and their broker partners across the UK for the launch of their first broker insurance product for tradespeople. This partnership marks a significant milestone in providing much-needed protection and support to the underserved tradespeople market. With ARMD’s comprehensive insurance package, tradespeople can finally focus on their work with the peace of mind that their tools are safeguarded. Furthermore, brokers now have the opportunity to offer a valuable and unique product to their trade clients, expanding their customer base and fostering long-term relationships. ARMD is proud to pave the way for a brighter future for tradespeople and broker partners in the UK.