Quote engine problems claimed to have restricted broker services
InsurE-com, the insurance system provider and industry portal, has denied rumours it is looking for another big investor.
A leading market source said the company needed a new injection of capital after having problems with its quote engine. He said it could not offer a successful array of services to brokers.
"Some brokers may have loaded the software but are not using it for this reason," he said.
A spokesman for insurE-com said: "We have had no problems other than you can expect from the normal course of business.
"We are not looking for a new investor."
This rumour comes in a week when insurE-com managing director Ralph Ehlers announced he was leaving the company to "pursue other business interests."
This move prompted a shake-up in the management team with Chris Newman as the new chief operating officer and Dan Francis as the new director of business.
As well as reorganising the management structure, insurE-com has increased staffing within its customer services department.
InsurE-com has also announced it is strengthening its team focused on insurE-.tam, the client management and back office system for commercial lines intermediaries.
Former The Agency Manager (TAM) user Jackie Higgins has been appointed as business consultant for insurE-tam.
InsurE-com was recently voted 99th in the Sunday Times Tech Track 100 with an annual sales growth of 52.26% for 2002.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
