Caerphilly-based underwriter Brokers Only is to launch Broker 2000, a CD-Rom/disc-based quotation system for its liability, contractors all-risks, tools and let property insurance products.
Brokers Only is currently completing the first phase of testing to enable the system to print out proposal forms and quotations. It says it will distribute full details of the technology to brokers via the insurance press shortly.
Director Matin Sheppard said: "We recognise the need among small brokers to keep overheads such as paperwork and administration to a minimum in order for them to run an efficient and profitable business. We have designed an easy-to-install and use system for PC users that will speed up the quotation process."
Sheppard said development of the technology has taken the underwriter five months. The next phase is to implement the technology as an internet system.
Sheppard said: "Although this is a big market, we believe we are the only underwriters offering this kind of technology to brokers. Full EDI is our eventual target and we will be looking to have the products on the internet by the middle of next year. This is for smaller commercial brokers who are struggling and need to streamline their operation. They are the ones we are targeting."
Due to the nature of the products being offered, Sheppard said, updates would be sent out yearly or twice yearly.