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A new delegated authority platform for scalable affinity, embedded and device protection business

COMING SOON – This capability is being prepared for launch. Final product, territory and underwriting details will be published once formally agreed.

SEICO is developing a delegated authority binder with Newline at Lloyd’s of London. It is intended to provide a focused platform through which suitable affinity, embedded insurance, mobile device, warranty and related protection business can be considered within agreed underwriting rules.

A binder is an agreement under which an insurer gives an approved coverholder authority to carry out specified activities for defined classes of business. The authority is never unlimited. It operates within agreed products, territories, limits, wordings, pricing and referral rules.

For distribution partners, the practical opportunity is a clearer and potentially more scalable route for suitable schemes. Rather than treating each programme as an isolated transaction, the binder is intended to support repeatable products and long-term distribution relationships, while maintaining underwriting discipline and appropriate controls.

Insurance Services

The intended focus

Affinity Programmes

Protection developed for an identifiable customer, membership or user group.

Embedded Insurance

Cover integrated into an existing purchase, service, subscription or finance journey.

Mobile and Device Protection

Programmes linked to phones, connected devices and consumer technology.

Warranty and Related Products

Suitable warranty, guarantee and protection propositions that fall within the agreed authority.

Bring us the distribution opportunity

If you have an established customer base and an idea for affinity, embedded, device or warranty protection, we would be pleased to explore it with you.

Register your interest:
+44 333 006 3095

What this could mean for partners

 

  • A dedicated platform designed for repeatable scheme business
  • The ability to develop products around established distribution and customer relationships
  • A more consistent route for suitable opportunities that fall within the binder rules
  • Access to SEICO’s scheme development and distribution experience
  • Underwriting capacity provided by Newline for risks formally accepted within the agreed authority

 

Get in touch

 

A meeting
Two people in discussion with a laptop

What happens now?

We are already speaking with organisations that have credible distribution, clear customer demand and a well-defined protection opportunity. Early discussions can help us understand the proposition and assess whether it may be suitable for the binder once operational, or whether a separate market approach would be more appropriate.

Any opportunity will remain subject to the binder being fully operational, the final scope of authority, complete underwriting information, regulatory requirements and formal approval. Nothing on this page constitutes an offer of insurance or confirmation that a risk can be accepted.