Software house Policy Master has launched its information super highway solutions for both the general and life markets.
The company claims its e-commerce solutions package will greatly improve technology available to the insurance industry. To emphasise its commitment to the market the firm has formed a "virtual" consulting group comprising its most senior staff, branded Policy Master Electronic.
The company also recently struck a strategic alliance with Microsoft and is developing digital television for CGU.
It is also well advanced on a system that uses the internet to distribute products via the intermediary channel, with access to legacy databases.
It currently has two internet systems on the market: GEMINInet and PM ONline.
GEMINInet provides point-of-sale quotation and business fulfilment for commercial and personal lines EDI, while PM ONline enables customers to question and service their policies on-line through a direct link into the intermediary system.
"We believe that electronic commerce can meet the need for a new, more cost-effective and customer-focused business model," said Stephen Verrall, chief executive of Policy Master.
"While also providing a vehicle to streamline full life-cycle policy purchase and servicing.
"We can bring to the table a combination of the right technology credentials and insurance business understanding built up over 15 years.
"This means we can help make e-commerce a highly profitable channel."
Policy Master is also seeking to develop distribution channels for newer players such as banks, building societies and retail and utility brands.
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.
