Your report headed "Keying in for home cover" (19 June, Insurance Times) has led me to raise the question as to where you are getting your facts from in respect of home insurance procedures.
Particularly the third paragraph: "But insurance for the house is more difficult. A proposal form must be completed, then posted or faxed to the insurer. If the broker is lucky, a quote will be produced in a couple of days. If acceptable, the policy documents will take a few weeks to arrive."
Having worked as an insurance broker for more than 12 years, I cannot recall ever having had to obtain a proposal form, fax and post off to insurers and receive a quotation within a couple of days, apart from in the case of high/mid net worth policies.
While household EDI may be fairly new in comparison to motor EDI, household quote engines, and indeed household rating guides, have been around for many years.
Having a Misys system and agencies with Zurich Insurance, Allianz Cornhill, Norwich Union and Ecclesiastical Insurance Group, among others, leads me to suggest that more than 50% of our household new business is transacted via EDI and I feel sure that this will only increase.
I am all in favour of EDI policies, especially full-cycle where less and less emphasis is placed on awaiting documentation (usually incorrect) from the insurers.
I agree that EDI puts the broker in control, and cuts down on the time spent in the issue of documentation.
Cox Braithwaite Insurance Brokers
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