R&SA will not be rushing to develop auto-rated, straight-through-processed, small commercial policies, despite the strides made by AXA and NU, according to R&SA director of corporate business Brendan McManus
Royal & SunAlliance (R&SA) will not be rushing to develop auto-rated, straight-through-processed, small commercial policies, despite the strides forward made by AXA and NU, according to R&SA director of corporate business Brendan McManus.
Stating his support for the Polaris i-Market portal, which is due to give brokers a commercial lines online marketplace in September, McManus said that most of the brokers that provided SME polices which were best suited to online trading were still heavily telephone based.
"Many of them still have a machine in the corner of the office that is the internet machine," he said.
McManus, speaking from the Biba conference in Bournemouth, said that it would be a couple of years before this segment of brokers was able or willing to trade online.
But, he said: "We're not relaxed about it, we're working hard on developing these products."
He added that R&SA would continue to heavily segment its brokers based on long-term embedded value rather than just profitability and size as it had done before.
