Brit Insurance is seeking to expand its electronic trading system to provide a wider range of products to brokers.
Simon Cooter, Brit UK’s distribution director, said the company was talking to electronic trading platform providers, with a deal expected in less than two months.
The insurer is looking to increase the amount of business transacted electronically in small business and personal lines.
The move follows the appointment of Tim Grant, who will work as distribution leader.
Grant, who was previously with AIG, will take responsibility for overall strategy and further enhancement of Britbord, the company’s electronic binder for small business.
Cooter said: “We will work with a small number of providers and expect a deal to be struck in four to eight weeks.
“It has to be a really quick, efficient, low-cost model. It will leave our regional underwriters free to work on more complicated risks with bigger businesses.
”The new platform will complement Brit’s existing systems. Cooter said: “We have our own electronic binder for small business, called Britbord. We will market this to select brokers.
“We also distribute products via Imarket and we are looking to work with third party intermediaries that bring technology and distribution solutions.”
“We will not be pursuing the direct insurance option. Our whole focus is on distribution via intermediaries.”
Grant’s appointment is one of four made by Brit over the past two months.
Underwriter Keith Thorogood joined the personal accident team from Catlin in August, and Andrew Jackson and Jamie McNab joined as portfolio managers for property, packages and liability from Zurich.
