08 November 2022

OnTheMarket agrees partnership with Simply Business to introduce new insurance products to sales and letting agents

OnTheMarket Group (“OnTheMarket” or “The Group”) has agreed an exclusive partnership with insurance broker Simply Business to introduce four new insurance products to the portal’s agent customers.

The Group has been cleared to introduce Simply Business and its products to its agent customers after a successful application to become an Introducer Appointed Representative (IAR) for the broker. The available products will provide agents with more security and protection, especially during a time where rising costs are becoming more prevalent across businesses. Additionally, the partnership will also give OnTheMarket agents more choice to compare their current insurance policy benefits against one of the leading insurance providers in the market who are already trusted by a number of agents.

Available for all OnTheMarket sales and letting agents, the following four insurance products are underwritten by Simply Business MGA (Managing General Agent) and provided through Simply Business:

The Professional Indemnity Insurance product covers agents in circumstances where their client loses money as a result of negligent advice, services or designs. This insurance covers legal fees and compensation payments if a client loses out financially or professionally and is available in multiple bandings.

The second product, Public Liability Insurance, is designed to protect a business against third party claims for injuries or property damage from a client to a passer-by or visitor to the work premises whether the business is at fault or not.

Thirdly, the Business Contents Insurance product covers the cost of replacing equipment and furnishings in the agents’ business premises if they are lost, stolen or damaged so they can be supported with continuing activity as smoothly as possible should this occur.

Finally, the Employer’s Liability Insurance product, which is a legal requirement for most UK employers, is designed to protect agents and their employees if they are injured or become unwell as a result of working for their agency and covers the associated legal compensation costs and damages to give them peace of mind.

Each product is now available for all OnTheMarket agents to purchase from Simply Business via an online landing page.

Julie Emmerson, Head of Agent Commercial Partnerships at OnTheMarket, says: “Given that agent costs will be increasingly under the microscope over the next year, we wanted to make sure that we were able to provide some flexibility to our members by connecting them with an alternative provider with competitive rates. We are the only UK property portal Simply Business is working with to supply these products, which helps us in our continual quest to add value wherever possible in support of our sales and lettings agents. Access to these products will provide our members with greater choice when renewing their annual business insurance policies.”

Rory Merriman, Head of Partnerships at Simply Business, says: “Finding new and innovative ways to support UK SMEs is of paramount importance, particularly in the current climate. We’re delighted to partner with OnTheMarket to deliver simplicity and value to OnTheMarket’s agent community through a fully digital, bespoke insurance experience, protecting their businesses and enabling them to focus on serving their customers.”

Ends. 

About OnTheMarket:

OnTheMarket plc, the majority agent-owned company which operates the OnTheMarket.com property portal, is a leading UK residential property portal provider.

Its objective is to create value for shareholders and property advertiser customers by delivering an agent-backed, tech-enabled portal, offering a first-class service to agents and new homes developers at sustainably fair prices and becoming the go-to portal for serious property seekers.

OnTheMarket provides a unique opportunity for agents to participate in the equity value of their own portal. Agent backing and support enables OnTheMarket to display Only With Us properties to serious property seekers either exclusively* or 24 hours or more before agents release these properties to Rightmove or Zoopla.

* Exclusive properties are properties advertised at OnTheMarket.com by customers who do not list their properties with either Rightmove or Zoopla.

About Simply Business

Simply Business is one of the UK’s biggest business insurance providers, specialising in public liability insurance for SMEs and insuring over 850,000 small businesses and landlords across the UK.

Launched in 2005, Simply Business provides an online brokerage service, delivering policies tailored to individual business requirements. Using the power of tech and data to create the best possible customer experiences, Simply Business employs over 1,000 people across offices in London, Northampton, plus 200 in Boston, Massachusetts in the US.

Owing to its internal underwriting capability, Simply Business can cover over 1,000 trade types – ranging from plumbers to accountants to dog walkers. An accredited B Corp for their positive social impact, Simply Business has also been voted the Sunday Times Best Company To Work For twice in a row.