Broker Direct has launched a new facility for its shareholder brokers.
The new facility, Schemeshop, enables broker schemes to be traded online with a significant saving in time and cost to both the wholesale broker and the buying broker.
It is designed to take away unnecessary administration and delays by providing online quotes and cover.
Broker Direct broker services and marketing director Terry Stanley said: "This is a very exciting development. Many brokers have special scheme products which other brokers want access to."
Phase one of the launch includes some popular schemes from Broker Direct's shareholding brokers and Broker Direct is aiming to add extra schemes each month.
It is targetoing around one hundred by the end of next year, covering as broad a range of risks as possible.
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