03 Feb 2018
In an insurance market that all too often caters for the 'model' travel group of husband, wife and 2.2 children, Emerald Life has been a trailblazer in designing policies that also cater for the groups most often under-represented (and under-insured) in the market – the LGBT community, women, non-traditional families and single people.
The facts are stark. For example, if you are LGBT, you are 50% more likely to have no insurance than if you are not [1]. Many members of the LGBT community do not trust the insurance sector, thinking that they won't get cover or premiums will be higher, simply through customers being LGBT. Similar issues exist in how and why women buy (or don't buy) insurance.
Emerald Life has taken a different approach. From its website to its marketing, the imagery is reflective of the make up of the UK today, hence the tagline 'Insuring Today's Diversity'. Call centre staff and claims handlers have been given Emerald-specific training on diversity and respect and customer journeys are entirely gender-neutral. Emerald aims to be truly inclusive, not exclusionary.
The Emerald Life travel policy was the first in the UK to include Consular Assist, an additional protection package offering helplines globally and on-the-ground support in 190 countries around the world in case you have problems, for example being arrested or detained because of your sexuality, or assaulted while abroad. The company behind Consular Assist, ConsularCare, specifically waited to launch alongside Emerald Life, aware of the extra potential issues that LGBT or women travelers may face.
In addition:
- Policy pricing is HIV neutral, so there is no premium loading if you living with HIV and undetectable
- Pricing includes a family group that might only have one parent
- Customers can select gender neutral titles
- Cover specifically includes fostered, adopted and surrogate children, reflecting the make-up of many LGBT families
- There are specific FAQs on the questions that transgender customers might have
Heidi McCormack, Emerald's CEO, said “Emerald Life is about making sure that all of today's diverse communities get an equally thought-out and respectful journey. We worked for two years with underwriters, to bring to market the small but significant differences that, for example, women or LGBT travelers may face. The feedback from customers and commentators alike has been excellent.”
Steve Wardlaw, Emerald's Chairman, added “Here at Emerald, we offer the opportunity for those sectors of society that feel alientated from insurance, and financial protection generally, to protect themselves in a way the market has never done before. And that's not just our travel cover, but also for Emerald's home, wedding and pet insurances. We look forward to continuing to grow, offering truly equal products and service in an increasing number of areas over the coming years.”
NOTES TO EDITORS
Emerald Life is an insurance provider focused on the needs of under-represented groups particularly women, LGBT, non-traditional families and single people across the financial services sector. Emerald offers travel, wedding, home and pet insurance, and will be moving into life and longer-term protection. Emerald, awarded Ethical Financial Services Provider of the Year in 2016, supports community based projects by providing resources and partnering with leading organisations shaping equality, and recently has advised trade bodies including the Association of British Insurers on BAME issues within insurance.
Contact information:
email: press@emeraldlife.co.uk
tel: 07808 167 868
[1] Emerald own research (YouGov 2016)
