Exclusive products and schemes for members to follow

Online marketplace PowerPlace has signed a three-year deal with Towergate’s Broker Network that will see it develop products and schemes for network members.

Broker Network’s insurer director Dene Smith said the agreement would help members access a wide range of products online, whether or not they use software from PowerPlace owner Open GI.

“The platform will allow our members to improve their business efficiency and enhance their earnings potential,” he said.

“The long-term partnership will allow us to work closely with PowerPlace to develop bespoke new products and schemes that will provide members with an edge over non-network competitors.” added Smith.

PowerPlace is in discussions with Broker Network to build electronically traded products for its managing general agent, Broker Network Underwriting.

Towergate sold PowerPlace to Open GI last year for an undisclosed sum.

PowerPlace chief executive Nick Giddings said: “We are delighted to be working with the network and offering its members access to a wide range of products and services to boost their e-trading strategy.”