Firm targets big five with data service

Data and disaster recovery business, First Recovery, is targeting the "big five" SME insurers this y...

Data and disaster recovery business, First Recovery, is targeting the "big five" SME insurers this year, having launched a new data protection service for the sector.

First Recovery can now offer an insurer's SME clients four gigabytes of data storage, via its online data back-up service, to protect them against the risk of losing critical data because of fire, flood or system failure.

The company promotes its service as 'cost neutral' to prospective insurer customers because it charges a flat fee based on the reduction in premium for having continuity measures in place.

Three insurers have already signed up to use First Recovery's offering - which also includes access to more than 450 standby locations throughout the UK - QBE, AIG and an underwriting agency start up.

However, First Recovery managing director Paul Roberts is looking to expand this: "Our strategy is to sign up one of the big five insurers in the SME market, and perhaps two of the next tier.

"One of the benefits for insurers (of its service) is the retention rates, because when a client looks to renew its policy, they may be offered a cheaper quote down the road, but will that insurer protect their data?

"If not, a business will have to find someone else to do that, and many SMEs do not want the hassle of setting up a new account."

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