Open GI, along with Powerplace, has introduced a new solution for commercial lines business, allowing brokers and insurers to trade in three ways.
The technology providers are offering three new ways of trading for brokers, including Micro, SME and Complex.
PowerPlace CEO Nick Giddings said: "2015 heralds a new approach for PowerPlace whereby we will offer a solution that will allow both brokers and insurers to trade in a multitude of ways.
"Today’s commercial lines market has evolved since PowerPlace started back in 2008. Over the years we have been working with brokers and insurers to understand that a single e-trading solution is not viable to serve the UK SME market.
Micro will help brokers to compare and quote covers from an extensive panel of insurers easily and it will also allow brokers to access PowerPlace’s eBroker technology, a B2C quote-and-buy solution for brokers to trade online with their end consumers.
SME is PowerPlace’s new integrated solution that will help brokers to trade direct with insurers and its panel includes leading insurers such as Ageas, AXA, NIG and RSA.
Complex is a complete commercial capture data solution that can be used for both non-auto-rated and auto-rated risks.
Open GI group CEO Chris Guillaume said: "Following our management buyout at the end of 2014, our first priority has been to accelerate the repositioning of PowerPlace in the market."
PowerPlace is Open GI’s solution for commercial lines business and part of of the Open International Group. It works with different insurer partners such as AXA, ACE, Ageas, Covea, e-Underwriting, QBE, RSA, Zurich, and Towergate Underwriting.
Image: Open GI and PowerPlace have launched a new solution for commercial lines business. Photo: courtesy of Stuart Miles/ FreeDigitalPhotos.net.