Under the agreement, which will come into force in January 2019, Aviva will become the capacity provider for the majority of Ripe`s niche insurance products in the sports, leisure and economic sectors. This long-term partnership with the UK`s largest general insurer is an important step in Ripe`s development in the insurtech sector. Paul Williams, CEO of Ripe, said: “Aviva has shown its appetite to work with Ripe`s technology and agile approach to niche insurance. In this time of volatility and uncertainty, particularly among unceded insurers, it is thanks to the team here and our consistent insurance that the UK`s largest A rating insurer has sought a long-term capacity agreement with us. “As an insurtech company, it is important that we have a partner that understands our digital model and growth ambitions. Aviva recognizes the future of insurTech and will not only help us accelerate our product pipeline, but also potentially open up new opportunities for the distribution of Ripe products through Aviva`s channels. Phil Bayles, General Manager of Intermediation, commented on the partnership as: “Aviva is pleased to be working with Ripe. It is important that we look at different ways of working in our industry and that InsurTech companies, like Ripe, have a different mindset that fits our approach. As an insurance intermediary, we are usually your intermediary in the organization of your insurance. We will always act honestly, fairly and professionally to ensure that your best interests are our priority. In certain circumstances, we may apply vigilance obligations to insurers and/or other parties and their duty. If we become aware of a real or potential conflict of interest, we will inform you of the situation, the options available to you and we will seek your consent before proceeding. The aim of this memorandum is to avoid disputes between insurers over the quantification of rights.
After the end of the “Knock for Knock” agreement, the insurers agreed on both liability and quantum agreements. If you have a complaint, please contact: Complaints Department, Ripe Insurance Services Limited, The Royals, Altrincham Road, Manchester M22 4BJ, phone `44 (0)161 902 2666 or e-mail: email@example.com. You have the right to request information about any payment we may have received by creating and renewing each of your insurance policies. If you purchase a policy on behalf of another person, group or other team (hereinafter the insured), it is your responsibility to ensure that the disclosure obligation is met for the insured for whom coverage is acquired. It is also your duty to ensure that the insured on whose behalf the insurance was acquired is aware of the full insurance coverage data. We cannot assume responsibility for damages if a claim is dismissed for non-disclosure by or on behalf of the insured. If you decide to pay your insurance premium through our third-party financing provider, your data will be sent to them. If your policy is paid through our third-party financial services provider and you choose to renew your insurance coverage (or we renew your insurance coverage in accordance with the “Policy Extension” section of this agreement), we will continue to provide you with your information. If a debit system or other payment due in connection with the credit contract you enter into with our third-party financial services provider to pay premiums is not made if they are subject to payment, or if you terminate the contract with them or if you do not enter into a credit contract with them, we will be informed.