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Blog: Broker Insights Scoops Industry Award

Insurance Times’ Tech & Innovation Awards: Technology Partner of the Year – Commercial

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The entire team at Broker Insights is proud to receive the Insurance Times’ ‘Technology Partner of the Year – Commercial’ award at the Tech and Innovation Awards 2021. Partnerships are fundamental to Broker Insights, which is why this award feels extra special.

At the ceremony, which was held at The Royal Lancaster Hotel in London, Co-Founders Fraser Edmond and Iain Crole were on hand to receive the award. The pair spent the evening talking to peers about the outstanding work being done in commercial insurance to embrace emerging opportunities that result in better customer experiences.

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Commenting on the achievement, CEO, Fraser Edmond, reflected on the achievements to date.

“The journey from a start-up enterprise in 2018 to the present day has been incredible. Building the first platform iteration and engaging insurer and broker partners to join our vision for the future was a huge moment. We are grateful to our early partners for their support. 

“Fast forward to 2021 and from a standing start, we have rapidly scaled the business and now have over 390 broker offices, £1bn commercial GWP, seven leading insurer partners, and over 1,000 regular platform users. Accomplishing this in under three years is something we are immensely proud of.” 

EVP, Iain Crole, believes that partnerships are the foundation upon which success is built.

“We set out to help remove friction from commercial insurance sectors operating model and this award, along with the progress we have made with the platform and growth to date, are testament to the progress being made in the industry and the transformational improvements we are providing for our partners.

“If insurers can’t see a broker’s customer base, how can they efficiently develop and distribute products to brokers for their customers? If brokers don’t understand the exact underwriting appetite of insurers, how can they efficiently channel their broking efforts towards the right insurers for their customers? 

“Our platform provides a direct connection between brokers and insurers, helping both parties to understand more about each other and trade faster.

“By combining broker customer data and insurer risk appetite data, you can point insurers and brokers in the right direction at the right time for the right customers, removing much of the activity, friction and cost that exists without this way of working. In short, our partners use the platform to help them turn data into knowledge and optimise their day-to-day processes.”

Commenting on what the future holds, Fraser feels that the best is yet to come.

“Supporting distribution and broking decisions through knowledge and insight remains our key focus. We are committed to developing the platform within the UK market. Broker Insights has a product roadmap, which includes some incredibly exciting developments shaped by our broker and insurer partners.”

Congratulations to all the award winners! 

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Images courtesy of Insurance Times.

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