The Broker Cloud will cover commercial motor and personal lines business

A portal for scheme brokers and niche traders has been launched by I-Wonder Holdings and will be fully open for business from 1 December.

The Broker Cloud will offer insurance-related software to brokers through a cloud-based platform.

The offering will include third-party software such as Transactor and other products including online payment options and data enrichment. The service will cover motor, household, commercial vehicle and motorcycle business.

The Broker Cloud head of sales Mark Bennett said: “There are lots of scheme brokers out there who are keen to exploit some of the newer routes to market, such as full cycle e-trading, B2B and B2C. More recently, niche aggregation has gathered momentum and there is clearly a lot more to come across a whole range of business classes.

“As the market continues to evolve and customers continue to expect more, broking enterprises can be held back by their inability to offer quotes and buy services online. Sub-agents and direct clients are no longer satisfied with solutions that just offer new business.

“They now want full cycle transactional trading options for the whole policy lifecycle available to them on the broker’s website. Even if a broker has overcome that problem with a bespoke website, it has probably been a major expense, and the hassle of keeping the website up to date, together with the cost and inconvenience of re-keying all the data into another system is a major headache.”