Open GI mooted as the buyer


Towergate is considering a deal to sell PowerPlace to Open GI, Insurance Times understands.

Open GI is owned by holding company Broomco (4099), and ultimately controlled by Towergate founder Peter Cullum, according to documents filed at Companies House.

PowerPlace is an e-trading platform for brokers. It was launched in 2009 and is owned by Towergate Insurance.

PowerPlace already works in conjunction with the Open GI platform, letting brokers obtain quotes from an insurer panel.

PowerPlace and Towergate would not comment.

Open GI sales & marketing director Simon Hughes said: “Towergate and Powerplace are large and important customers of ours, and we are unable to comment on any rumour or speculation.”