Markel Syndicate 702, which this week changed its name from Lloyd's syndicate RE Brown & Others, said targeted use of the latest advances in software technology, email and the internet was an integral part of its customer service strategy.
The syndicate's new rapid insurance quoting system, ActiveQuote, is an ebusiness solution designed in close collaboration with insurance brokers to ensure that their specific priorities are addressed.
Markel said ActiveQuote provided a “virtual underwriter” for the broker's office allowing him to manage his portfolio of clients with minimal need to liaise direct with the underwriter.
It enables the broker to get quotations, bind new policies, renew or endorse existing policies and produce all forms of policy documentation online.
ActiveQuote is the brainchild of the syndicate's ecommerce underwriter, Ian Wallace. He said that, together with software developers Wisdomsoft, he worked closely with brokers, trialling the system to ensure it contained all the features they needed to work more efficiently and profitably.
Wisdomsoft director Alex Bell said: “ActiveQuote developed from the initial concept of automating the quoting process for brokers.
“By expanding on the idea of storing simple rating in a database, we created a system that actually captures the underwriter's knowledge through questions and rules.
“This allows them to design their own insurance products without the need for IT support.”
One of the first brokers to implement the system was Hamilton Fraser Insurance Solutions, based in Barnet, Herts, which operate a binding authority scheme with syndicate 702.