New products and insurers set to be added

Commercial EDI business PowerPlace has unveiled the Shop policy provided by Fortis as its latest product.

PowerPlace is currently used by over 210 brokers operating off the Open GI platform and is supported by a number of insurers including NIG, Zurich, Groupama, Fortis, MMA Insurance and Towergate Underwriting.

The product is one of 28 live products on the Open Trader software.

Mark Armitage, managing director of PowerPlace said: “This is yet another great addition to the PowerPlace solution. What’s more we have an exciting plan of more product roll outs scheduled for the rest of the year from existing and some new insurer partners.”

Mark Cliff, managing director of Fortis Insurance said: “We’re delighted to offer our market leading shop policy through PowerPlace, supporting our planned growth in the commercial arena.

"Our strategy is to continue to be seen as the natural choice for insurance through excellent service, efficiency, competitiveness and partnerships. We believe that electronic trading is a key enabler to keep processes fast, simple and responsive for our brokers and PowerPlace provides an opportunity for brokers to realise service efficiencies in a low cost way.”