Insurance brokerage Topaz has put together a proposal with a major direct insurer to save broker system provider Brokersoft, which stopped trading earlier this week.
In a statement, Topaz said: "A meeting has taken place between a number of parties... with a view to obtaining the intellectual rights to the company, with the hope of developing the product and maintaining a stable platform for the future."
The parties involved include the yet to be named direct insurer, IT specialists and several Brokersoft users.
Topaz managing director Richard Mikula said it was crucial to safeguard the interests of brokers who used the Brokersoft system.
"In a worst case scenario, we would be out of business in three months," he said. "That's if we can't find replacement software."
It is understood that Brokersoft had over 80 clients, many of them multi-users.
The parties behind the proposal will have to move quickly because a Brokersoft appointed liquidator intends to liquidate the company by Tuesday.
Mikula said Topaz and its partners would be meeting on Monday to take the proposal to the next stage.
Any broker or insurer who wishes to contact Topaz can do so on 020 8348 3369 or at info@topazinsurance.co.uk
