The Towergate Partnership has acquired e-commerce specialist Your Insurance Group (YIG) as part of a £10m drive to push more commercial business online.

Guildford-based YIG currently markets and sells SME products worth £10m GWP per year.

Towergate said it foresees placing £100m GWP of SME business online within three years by migrating its subsidiary brokers to YIG's online system.

Peter Cullum, executive chairman of Towergate, said: "Brokers need to reassess the model by which they distribute. Your Insurance has the technology to process fairly complex commercial risks online. There is no doubt that e-commerce will become an important area in the battle for SME market share.

"The last 12 months has seen significant growth in SME business volumes traded via the internet, and I have no doubt that this trend will accelerate," he added.

YIG's IT platform integrates call centre, direct mail and internet marketing of SME insurance, the company said.

Cullum said: "From a processing point of view the cost savings of doing business online are substantial."

YIG's staff of 40 will be retained, Towergate said.