Unique to Royal Union, the Saver Series of insurance products is available to both business (Commercial Saver ®) and personal (Royal Saver ®) clients and offers the ultimate in flexibility combined with competitive pricing. The concept is based on co-insurance principles where you – the Insured – carry a portion of the risk up to an amount you feel comfortable with. In return for carrying a portion of the risk, you receive a portion of the premium to fund claims falling within this self insured portion. This concept allows you to reap immediate financial rewards by linking your policy to a corporate savings account. In line with our risk management philosophy, each Saver policy is individually underwritten.
What this all means is that you have complete control over your policy and can tailor it perfectly to suit your needs and circumstances.
In terms of business clients, the Saver Series serves as a bridge between a fully insured client and one who wants to move towards self-insurance, allowing time to ‘build’ a fund, yet still have access to the funds if the need arises.
The Saver Series can be applied to any type of insurance policy, but it is best suited to clients who ‘take more care’. If you are the type of person who tends to look after and protect your assets from loss or damage, then the Saver Series is the ideal fit for you.
IN BRIEF, THE SAVER SERIES:
- Is based on co-insurance principles
- Allows you to share the risk and reap the reward
- Automatically encourages Risk Management
- Recognises the need to cover large claims
- Eliminates the fuss and bother of small claims
- Is an excess free policy
- Allows you to take control of your own risk
- Allows you to become a member of a low frequency claim population
THE SAVER SERIES OFFERS THE FOLLOWING CLIENT BENEFITS:
- You get money back every month as a percentage of the
premium is paid into your savings account.
- The ‘money back’ is not subject to any terms and conditions
and no ‘claims free’ period has to run before the money is received.
- There are no strings attached – no minimum periods, nothing.
You pay a premium, and money is immediately added to your savings.
- Accumulated funds can be used for holidays, personal
purchases or whatever you choose.
THE SAVER SERIES OFFERS A REAL ‘WIN-WIN’ SCENARIO BECAUSE NOT ONLY DO YOU SAVE, BUT THE INSURER BENEFITS TOO, RESULTING ON GOOD RELATIONSHIPSBEING MAINTAINED BETWEEN YOU AND THE INSURER
How The Saver Series benefits the insurer:
- Appealing to clients who ‘take more care’
- Discouraging high frequency claimers
- Eliminating costly, frequent, low value claims
- Reducing expenses all round (staff, stationery and communications)
- Ensuring that risk management is automatically assumed by the Insure
- Is an excess free policy
- Attracting upper income groups
What The Saver Series offers:
- Comprehensive, simple to understand cover
- Very competitive, sustainable premiums because you become
a member of a low frequency claim population
- A portion of every premium you pay given back to you as savings
- The power to manage your own claims within the co-insured amount
- The flexibility to increase your co-insured amount and move towards
self-insurance, as your savings account grows