Managing director John Blundell says volumes of premiums already written are “well ahead” of target
The etrade offering that was recently launched by Sterling Insurance is helping the insurer to win business from competitors, managing director John Blundell has claimed.
At the beginning of April the insurer made its commercial products available on etrade platforms.
Brokers are able to access shop, property owners and office products in Sterling’s extranet and through the insurer’s Acturis platform.
On more complex risks, brokers will be able to trade Sterling’s full range of commercial products using Acturis’s u-trade facility.
Premiums typically start from £250.
Blundell said since its launch the volumes of premiums already written were “well ahead” of target.
The insurer is also hitting its target of responding to more complex queries within 30 minutes.
Blundell did not disclose the exact amount of premiums that had been written so far, but added Sterling would surpass its target this year.
He said the growth of the etrade book had been driven by brokers who already dealt with the insurer on bigger risks and were now able to trade their smaller risks with the insurer.
Blundell said: “A lot of it is brokers that we deal with but we have not dealt with them in this micro SME area, so we are getting a lot of business. which was the whole point and making it easier for them to trade with us.
“We are getting a lot of business they would have placed somewhere else. It was always the case they loved us, they loved everything we did, but because we did not have a streamlined proposition they did not use us. We are actually taking business from our competition.”