After a year's delay, the much-touted Insureright system, which will link brokers to the internet, is finally to go live in the New Year.
Insureright has a central website which offers information ...
After a year's delay, the much-touted Insureright system, which will link brokers to the internet, is finally to go live in the New Year.
Insureright has a central website which offers information on a range of insurance products, with hyper links to brokers' websites.
The system is designed to offer brokers back office support services and will allow them to sell services online.
Brokers and their clients can also access records, so either can make changes to the policy or effect renewals.
The technology has been produced in conjunction with Polaris, which specialises in helping insurance companies gain web-based capabilities. More than 30 insurers are currently using the Polaris system and it is being incorporated into ten more.
As an incentive, Insureright offered 50% of the company's shares to be divided among the first brokers to sign up. About 160 are now registered.
Insureright has the backing of the Institute of Insurance Brokers (IIB).
IIB director general Andrew Paddick said: "This system is leaps ahead of anything else on the market.
"The average broker will have £1m worth of technology behind his own system, for a licence fee of £3,500."
Paddick explained that the late launch of Insureright is a result of difficulties in web-enabling for those taking part.
"Not all insurers are internet ready by any means," he said. But he added that brokers are now being connected to the system at a rate of ten every week. Tests have been carried out on the Polaris products of Avon, Broker Direct, Allianz Cornhill, Fortis, Link, MMA, NIG and Norwich Union.
