Brokers will be able to brand and offer commercial products online
Broker2Broker Insurance Services is to launch a service enabling brokers to sell commercial insurance through their own websites.
The white-label online service will allow users to ‘quote and buy’, and receive full policy documentation, mid-term adjustments and renewals.
Broker2Broker, part of the SME Insurance Group, will also launch fleet and commercial combined products at this year’s Biba conference in Glasgow.
The portal, launched in 2007, already has 15 products underwritten by a panel of 10 insurers.
Meanwhile, broker SME Insurance, part of the SME Group, is set to launch an internet trading site for commercial lines products. Contractors and tradesmen products are currently being piloted. When the site goes live it will offer a range of commercial lines products.
SME Insurance Group chief executive Jason Gandy said: “We had a great response [to the pilot] in terms of new business levels during the last two weeks of February which is really encouraging.”
Gandy said the conversion rate was over 40%.