What is Synergy MicroCaptive™?
Synergy is different to any other type of insurance: we believe that insurance should be about protecting your business against serious accidents and problems, and not about employing an insurer to manage small losses that you could deal with better and more cheaply yourself. So we take a new three step approach…
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Firstly, we split your insurance in two: larger losses, (like a warehouse burning down), and smaller losses (like a driver scraping a van in the car park). The point that divides these two losses is called the Switch Point, and we agree this between us at the start of the policy. |
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For any loss larger than the Switch Point, we are responsible for the loss, from the ground up and with no deductible. |
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For any loss smaller than the Switch Point, you are responsible for the loss. This means you can get on and fix the problem without worrying about getting three quotes, loss adjusters etc… |
You are bearing the costs yourself for small accidents and losses while being completely protected for any serious problems. In this way we share responsibility with you for your losses over the year. Larger losses are our responsibility, smaller losses are your responsibility.
By taking responsibility for your smaller losses yourself, Synergy can protect you against serious problems up to 40% more cheaply than normal insurance. If you manage your business well, over time you should be able to make sure that your small losses are always significantly less than the amount you save.
Switch Points are normally between £20,000 and £50,000, and the higher you are happy to take them the more you can save.
With Synergy, all the core classes of insurance are combined into a single product with a single Switch Point.