Screentrade, the interactive insurance broking web site operated by Misys Interactive, has proved a huge success.
In the last ten months, more than 500,000 people have visited the site.
Misys says the operation provides in excess of 20,000 quotes per month. The acceptance ratio for these is between one and seven per cent (depending on the class of business) which Misys claims is a significant improvement. The site now offers three classes of business, travel, household and motor.
The news could concern many Misys brokers worried that the software house is acting as a competitor and supplier at the same time.
However, Screentrade's director of general insurance Ivo Phillips once again pledged to sell the technology on to brokers once it is perfected.
He said: "Yes we will sell it on to brokers. Screentrade was originally set up only as a trial. The reality is that a number of brokers have talked to us about the technology, but we haven't finished developing it yet.
Phillips also said the largest chunk of Screentrade's business (40%) had been poached from direct writers as opposed to brokers.
Despite it not being perfected, Misys has started promoting the service widely. It advertises on-line and also has a series of adverts on billboards.
Misys has set aside an advertising budget of over £1million for the year ending May 31 next year. The campaign also has links on web sites including Auto Trader, Time Out Magazine, Interactive Investor and ft.com.
Screentrade has also just extended its products to offer motor policies from Zenith, CGU, Avon, Cornhill, Axa, Link and Legal & General.
