Leeds-based personal lines MGA, UK General Insurance has teamed up with Colchester-based insurtech, Arma Karma, to underwrite a personal possessions product for its customer base of students, young professionals and renters.

The product is underwritten by UK General Insurance and insured through Watford Insurance Company Europe. It provides theft, loss and accidental damage cover for up to five valuable personal belongings. The premium is paid via monthly subscription and can be cancelled at any time.

Ben Smyth, co-founder of Arma Karma, said: “The product is based on simplicity, both in terms of the cover and the sales and payment processes, which have been designed to make for a super-efficient and easy customer journey.”

Tim Smyth, CEO of UK General Insurance, added: “We are delighted to have been given the opportunity to work with them to bring such an innovative and customer focussed product to market. It’s a great fit for UKG’s specialist property appetite and we are confident that it will play well with customers looking for a simple way to insure their belongings.”

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