New network has more than 200 brokers
1Answer Network has bought online broker network BrokerDrive.
Brokers from both groups will join a new, rebranded network called 1Answer BrokerDrive.
The acquisition takes 1Answer’s pool of members to more than 200. The deal will give brokers from both groups access to the other’s e-trading systems and services.
1Answer director Paul Muir said: “We felt that the two matched well. It is a fantastic fit for us.”
“Strength in numbers means more now than ever, and growth and expansion are key to survival in this industry.”
BrokerDrive was launched in October 2011 as an alternative to traditional networks. It offers brokers consultancy services in areas such as compliance, human resources and marketing. It also has product deals with several insurers.
1Answer is a more traditional broker network, with a strong personal lines slant.
1Answer is developing a new CDL commercial and personal lines e-trading system, which will go live in April and be rolled out to its members.
BrokerDrive managing director Joe Manning will step down and concentrate on running his new brokerage, JMB Insurance, which has just been given FSA authorisation.
However, he will continue to advise 1Answer BrokerDrive as a consultant.
Manning added: “I’m going to be concentrating the majority of my efforts very much on my insurance broking activities. But I will be working with and supporting 1answer Brokerdrive over the coming months.”
Manning’s new broker will go live on 1 March and will handle commercial motor, general commercial, household, buy-to-let and mid- to high-net-worth.
It is based in Heathfield and will employ three staff.
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