Wilsons Insurance Group is the latest firm to join Solutio's consolidated database, The Trading Floor.

Launched last month, Solutio said the database will enable personal lines brokers and insurers to combat the growing costs of failed quotes.

The company said subscribers to The Trading Floor would be able to sell unused information arising from unsuccessful quotes to interested network partners.

It said: "A considerable percentage [of quotations] don't convert to real sales, leading to escalating acquisition costs and decreasing response rates.

"The Trading Floor is a means of exchanging and enhancing customer/inquirer information through a centrally managed data pool."

Solutio sales and marketing director Chris McDonald said the detailed information collated by brokers would enable companies to target specific clients.

The database has received FSA approval and already has a commitment for more than 10 million records since it opened on 3 October, Solution added.

Solutio Network is to launch The Card Protection Programme in conjunction with Creating Profitable Partnerships later this month to cover identity theft. The product is underwritten by Homecare Insurance.