Lloyds TSB will relaunch web-broker Screentrade on October 31, backed by a panel of insurers including AXA, Norwich Union and Lloyds TSB.
Head of e-commerce for Lloyds TSB's insurance services, Nigel Lombard, said deals were still being finalised with other insurers.
He said the broker would focus on motor, home and travel, although new types of cover would be added. Lloyds TSB bought Screentrade from Misys in July for £1m. Since then, Lombard said, the B2C broker had been running with backing from Lloyds TSB.
He said: “We want Screentrade to continue being the people's champion and that means getting the lowest-priced quotes. It will not just lead back to Lloyds TSB policies, although we will be quoting for home cover.”
He added: “We will retain the name, the colours and the look. And we will be using web marketing to make sure the word gets out.”
Screentrade had 25,000 policyholders when it bought the initiative. “We expect that number to be trebled in the first year,” he said.
Lombard said Lloyds TSB would be able to make a go of the site because it could make cost savings. “Misys had its own call centre with 59 people that cost an arm and a leg to run. We can integrate Screentrade into our existing call centres,” he said.
He added Lloyds TSB's buying power also reduced internet and other running costs.
Lombard said the three-fold increase in policies could be achieved with the same amount of traffic that was visiting the Screentrade site in July. “Even if we have a bit less than the 150,000 unique visitors per month, we can meet our targets because of a better conversion rate,” he said.
