SiriusPoint backs MGA RAM Group to enhance insurance products

Specialist Managing General Agent (MGA), Risk Assurance Management Ltd (RAM) has partnered with Shepherds Friendly, one of Britain’s oldest mutual societies, and global re/insurer SiriusPoint, to further develop its existing portfolio of UK Group Risk business.

RAM was established in 2001 and currently provides in excess of £10bn worth of cover for over 110,000 people.

Its collaboration with Shepherds Friendly, established almost 200 years ago, and SiriusPoint, an expert in Group Live cover, is to a new health and wellbeing proposition through HealthHero.

Florian Boecker, Head of Life Reinsurance at SiriusPoint, said: “We are excited to leverage our customer focused and collaborative mindset in joining forces with RAM and Shepherds Friendly to bring a highly attractive value proposition to the UK Group Life market.

“The combined strengths of RAM, Shepherds Friendly and SiriusPoint will enable us to make a real difference in the consolidating UK market. The partnership also aligns with SiriusPoint’s aim to work with specialist distribution partners, while bolstering our global Life strategy to grow in the Employee Benefits space.”

HealthHero will offer a ‘first class’ 24/7 virtual GP service, alongside a valuable second medical opinion service.

“Added health and wellbeing benefits are a fundamental part of Group employee benefits packages, as they provide additional support to employees and their immediate family,” the MGA highlights.

The partnership has been designed to further develop RAM’s existing portfolio of UK Group Risk business by expanding their breadth of operation in the market with an enhanced product at a competitive price.

As a result, more employees across the UK will be able to benefit from RAM policies.

Richard Ashley-Davies, Managing Director at RAM, noted: “By entering into this strategic partnership with Shepherds Friendly and SiriusPoint, RAM has a tangible opportunity with fresh thinking to develop into a prominent insurer in the UK Group Risk market, benefitting the broker community as well as the policyholders we serve.

“We will continue offering the very best service but now with an enhanced product and pricing strategy, which will allow us to actively compete in providing solutions that meet employer’s needs, whilst strengthening our already robust reputation.

“With streamlined claims procedures at the forefront, all partners remain steadfast in their commitment to delivering swift claim settlements which RAM is renowned for.”

Dan Simpson, Chief Innovation Officer at Shepherds Friendly, commented: “We are thrilled to be partnering with the experienced and specialist teams at RAM and SiriusPoint to support their vision to provide more employers with valuable death in service and critical illness benefit.

“This is a new market for Shepherds Friendly and we recognise the rising demand for quality workplace benefits. Integrating HealthHero’s solution will further enhance the product offering, allowing employees covered under RAMs Group schemes to gain quick and easy access to medical advice.”

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