Edgar Hamilton Wellard's Millennium trading platform is set to link a panel of motor insurers direct to regional brokers via the internet, completely bypassing the system traditionally offered by software houses.
EHW says 18 syndicates and insurers have signed up to Millennium, and discussions are continuing with other potential panel entrants.
Panellists have been asked to contribute £20,000 towards EHW's costs, which are estimated at £45,000 for linking each insurer into the system.
The initiative, known as Brokernet, will be formally presented to invited brokers in August. EHW claims Millennium will provide a faster and more cost-effective system than the current quote-machines.
Cast Systems, a Cambridge software house, has designed the technology underpinning Millennium. Integral to its package is full compatibility with brokers' back office systems.
