Former BGL directors set up broker to deal exclusively with aggregators.
Two former BGL directors are launching their own broker that will deal exclusively with aggregator sites.
The company, Igo4 Insurance, will be up and running by June and will be listed on all the main aggregator sites, featuring a panel of 10 insurers.
BGL’s former business development director Matt Munro and e-commerce director Tom Cooper left the company in November to start up the broker, with goals of selling 100,000 policies in the first year.
“Our ambition is to be higher than the average player on aggregator sites,” said Cooper, chief operating officer.
“Because we are so lean our overhead will be small, and we’ll be able to sustain key competitive rates.”
The move seems to run counter to many brokers’ perception that price comparison sites pose a threat to the broking business.
Cooper said: “I have always been a huge supporter of aggregator sites because there’s nowhere to hide on them.
“If your prices aren’t competitive it will show.”
Working exclusively with aggregators will also allow Igo4 access to a large pool of business without having to pay for marketing, added Cooper.