More sectors: Bayerische expands its commercial insurance offer

Photo: The Bavaro

Martin Gräfer, The Bavarian

Bayerische is expanding the range of industry-specific commercial insurance solutions. In the future, the insurer will also offer specific solutions in the hotel and restaurant industry, retail, textile and food trade, part-time medical professions, electricians, building cleaning, gardening and landscaping. Going forward, the insurer will rely entirely on the Thinksurance platform for business advice.

Bayerische is expanding the range of industry-specific commercial insurance solutions. In the future, the insurer will also offer specific solutions in the hotel and restaurant industry, retail, textile and food trade, part-time medical professions, electricians, building cleaning, gardening and landscaping. The insurer appears to have made precise calculations when it comes to the price-performance ratio of the new “commercial world”: the Bavarian company said it was among the top three providers.

More individual and tailor-made insurance

According to the insurer, the focus of the new commercial rates is on sectors such as building cleaning, electricians, gardeners and landscapers, medical assistants, retail or even restaurants and hotels. Content and commercial responsibility are offered in the course of this with bonuses and conditions optimized for the target group. Commercial buildings insurance is also being introduced as a new line for office buildings and medical facilities, for example, or the bundling of several buildings insurance policies into one contract.

“During development, it was particularly important for us to generate even more industry-specific offerings. Every industry has its pitfalls and quirks. We want to cover and secure them in the best possible way. In addition, we offer a unique solution on the market today with our comprehensive content insurance coverage and additional sustainable benefits on all products,” says Martin Gräfer, member of the Bayerische Board of Management, evaluating the new development. According to Johann Wastian, head of underwriting at Bayerische, the coverage amounts amount to eight million euros in the area of ​​content insurance and up to 15 million euros in the area of ​​building insurance.

All-risk coverage: additional sustainable yield included

In the field of comprehensive coverage, the Bavarian company offers additional security. This means that everything that is not explicitly excluded in the conditions is always included in the insurance. With the all-risk coverage of the commercial policy, the burden of proof in the event of an accident shifts in favor of the client; the Bavarian must prove that the damage is not insured.

In addition, the commercial policy includes a sustainable additional service and climate-friendly loss settlement for contents, commercial liability and residential buildings insurance. With the sustainability module, after a loss, commercial liability and content customers receive an additional 20 percent benefit for sustainably produced replacement products and buildings insurance customers receive an additional ten percent benefit, such as floor coverings, paints and technical services, electrical or electronic products in a higher energy efficiency class.

Commercial insurance also covers the additional costs that arise when clients hire companies that are recognized as sustainable or CO2 certified. This also includes up to 20 percent more services in case of business interruptions if the business start-up results in longer downtimes.

Digitized process from consulting to administration

Keyword digitization: Here the insurer cooperates with Thinksurance. Frankfurt Insurtech has developed a digital platform to advise, sell and support commercial and industrial insurance. According to the Bavarian, both simple and complex risks can be processed in this way. In the future, the Advice Suite will be used by brokers and exclusively for commercial business advice.

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