Source Insurance releases quoting platform update

Insurance quotation platform provider Source Insurance has released a set of updates to its quoting platform, which is says has reduced the time-to-quote by half.

The platform – which specialises in providing insurance and mortgage brokers with quotes for home and landlord cover – said users can now generate quotes “in as little as 35 seconds”.

The firm cited the removal of unnecessary core questions, a reduction in declarative questions from 27 to 13, the merging of pre-price sections into a single step and auto populating fields as drivers behind efficiency gains.

Source also stated that it had moved contact details requests to the end of the customer journey, to “improve flow and build client trust”.

The updates, it added, reflected its “continued focus on listening to advisors and removing barriers, so they can work faster, quote smarter and deliver better outcomes for clients”.

Unnecessary steps

Gavin Judd, head of business development at Source, said: “This update is all about respecting advisors’ time and making the quoting journey as seamless as possible.

“By removing unnecessary steps and acting directly on feedback, we’ve created a faster, more intuitive experience that helps advisors reach prices quicker and focus on delivering the best outcomes for their clients.”

Chris Lynch, IT director at Source, added: “We’ve analysed thousands of broker and consumer journeys and worked closely with our insurer partners to deliver these enhancements.

“This fantastic result comes from our commitment to continuous improvement across our technology stack and focusing on the things that really make our platform work – speed, ease of use and flexibility.

“I’m looking forward to seeing how these changes work for brokers and starting the next phase of development.”