Full-cycle EDI household policy will be piloted by three brokers
Specialist motor insurer Highway Insurance is set to expand its broker network in 2006 by entering the household market for the first time.
The broker-only insurer hopes to increase the number of partnerships it has with UK intermediaries by developing its Highway Choice Home product, which was launched last week.
The full-cycle EDI household policy, which includes both building and contents cover, will be piloted by two brokers, Direct Choice, who will access the product via the CDL broking system, and 1st Quote, which is part of Highway retail.
A third, unnamed broker, will also begin testing the product in the next two weeks.
It is anticipated that the product with be made available via all major software houses, including SSP, CDL and Misys by the end of 2006.
Michael Lawrence, the company's sales and marketing director told Insurance Times: "[Highway Choice Home] will be complementary to Highway's existing products. In addition [to the 1,300 individual intermediaries that Highway currently works with], we hope this product will appeal to new brokers out there, who don't deal with us in motor insurance."
Chris Hill, Highway's managing director, said: "Having spent a considerable amount of time and resource establishing excellent relationships with a nationwide network of brokers we decided to look at ways of maximising opportunities to sell other competitive products through this channel."
He added: "The decision to run this household pilot follows encouraging testing of rates in a live broking environment and it's our intention to test our belief in Highway Choice Home before we decide whether to roll out nationally."