Foster Denovo sees synergies in GI

Foster Denovo has launched a new division, Foster Denovo General Insurance, in a bid to provide business and personal insurance policies directly to new and existing clients.

The company says it sees a clear synergy between the provision of and general insurance and financial advice to both corporate and private clients because customers will benefit from receiving recommendations based on a thorough understanding of their individual circumstances.

Foster Denovo is working with Devizes Insurance Brokers, a specialist with over 30 years experience in the industry to offer the full spectrum of personal and business policies.

Kevin Kinder, head of Foster Denovo General Insurance says: “Like financial products, insurance is not a commodity and, more often than not, individuals find there is no substitute for taking advice that relates specifically to their personal circumstances. While price comparison websites have their place, their ‘self-service’ model requires clients to accurately assess their own needs, as well as base their final decision solely on cost. As a result insurers may not get a correct picture of what they are covering.

“In contrast, brokers can assist in pricing risk better because they have more information with which to work. Insurance companies therefore usually select to work with them because they trust them. And they are often able to give a better price to customers because they understand the issues better.”