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.
