Axa is to offer an own-branded version of the Woolwich's Open Plan account on its open portal due to be launched next spring.

The website will also offer other financial services such as online sharedealing, which again will be through tie-ups with existing players.

Phil Hickley, media relations manager for Axa UK said it was unlikely that Axa would be offering the best products in every area. Some products will be offered by its competitors.

“We will select quality operators who want to work with Axa,” he said.

Hickley said the time was right to offer the portal. “There is an enormous desire among the public to use the internet,” he said. “Use of the internet seems to be going up exponentially and there is a real opportunity to add value for customers.”

The project was announced in March when Graham Hill, formerly head of money brokers Garban, was appointed to lead the development of the project.

Axa said the site was not intended as direct competition to insurance brokers but as a complementary service that will enable brokers to access Axa's sister companies PPP Healthcare, Axa insurance and Axa Sun Life.