Aviva, an insurance and financial services company, has partnered up with Howden to provide bespoke insurance to Sunsave, a start-up which offers homeowners solar panels on a subscription service.
From what we understand, the insurer and broker worked together with Sunsave to create a bespoke construction and operation cover policy for the solar energy subscription service, which provides solar batteries and panels using a regular payment plan.
The policy for Sunsave, which officially marks the UK’s first solar subscription, went live in February, with the first solar panel installation now completed.
According to the announcement, the bespoke insurance policy is designed to accommodate the nature of Sunsave’s business, with customer subscription fees covered in the event of solar panel damage.
At the same time, to accommodate the expected take-up, Aviva agreed to streamline the process around new installations.
It is clear that this move links to the goals of both Aviva and Howden, both of which are keen to support the UK’s transition to green and renewable energy through insurance, risk management solutions and advice.
Nick Evans, Deputy Head of Renewable Energy at Aviva, said: “As a leading insurer, we regularly see the impacts of climate change on our customers and communities, for example, through weather events such as flooding or subsidence. By taking steps now to minimise our environmental impacts, collectively we can get ready for the future.”
He continued: “We all have an important role to play in supporting the transition to Net Zero and bespoke policies like this can help to encourage environmentally friendly ideas to become reality. By working closely with both Sunsave and Howden, we’re supporting the accessibility and affordability of renewable electricity for households. I’m really pleased that Aviva continues to play a leading role in the renewables space and I look forward to seeing the impact of this and future partnerships.”
Deborah Duss, Global Head of Renewable Energy, Howden, commented: “Howden is proud to have partnered with Aviva to deliver an effective insurance product that gives Sunsave insurance customers peace of mind in the event the solar and battery systems are damaged. Insurance has a crucial role to play in enabling the energy transition to be successful, and we will continue to work with clients and markets globally to innovate and support growth in the renewable energy sector.”
Ben Graves, Co-Founder at Sunsave, added: “We are delighted to have worked with Aviva and Howden to put in place an innovative insurance cover enabling us to launch the UK’s first solar subscription service. This cover provides peace of mind for our customers and marks another important milestone in bringing the power of solar to all households across the UK.”
In related news, Aviva Plc is set to acquire 100% of Probitas Holdings (Bermuda) Limited, the ultimate holding company of the Probitas Group, for a minimum fixed consideration of £242 million, marking the firm’s entry into the Lloyd’s market.
