Broker Insights will once again be attending the BIBA Conference, which takes place on May 11/12th 2022.
Visitors to the Broker Insights stand, E1, will be able to learn more about the latest platform developments and the benefits of its unique ‘Match, Connect, Place, Repeat’ process.
With over 13% of the UK’s regional broker commercial insurance market within the platform, Broker Insights is delivering real-world benefits for its broker and insurer partners, specifically:
The platform enables brokers to MATCH renewal opportunities within their held book with the underwriting appetite of our insurer partners. The ‘intelligent match-making’ process leverages data relating to over 500,000 policies and references it against over 500 individual appetite parameters set by our insurer partners, including class of business and premium value. Matches identified by the platform enable brokers to target preferred markets with certainty.
Once identified, brokers and insurers can use the platform to CONNECT and discuss each opportunity in detail, without the inefficiency associated with out-of-appetite engagements. With over 10,000 Notes of Interest having been issued last year, the platform provides an effective direct channel of communication or supports the use of traditional channels.
The platform’s management information functionality supports ongoing placement strategy decisions. Visual overlays detail a broker’s held book, while a breakdown of individual cases help brokers to identify and select a preferred market to PLACE the risk.Analysis of platform usage metrics shows that brokers now average two visits per week to the Policy Placement page. The uplift in visit frequency suggests that brokers are increasingly utilising the page to inform their placement decisions and identify markets for their held book.
With over £1,100,000,000 of commercial GWP within the platform, it’s easy to see why insurer use has seen an increase of 112% year-on-year, while broker usage has increased by 137%, with both parties seeking to REPEAT the efficiency gains of leveraged data when compared with traditional processes.
Broker Insights’ Chief Commercial Officer, Alan Sanderson looks forward to meeting brokers and insures at BIBA 2022:
“It has been over two years since we last had an opportunity to attend a conference of this scale in person, and we are all really excited by the prospect.
“We look forward to detailing the latest platform features to potential partners, and to explaining how the platform can help them to MATCH opportunities, CONNECT with the right parties, inform where they PLACE risks, and ultimately, why this will become a process they want to REPEAT, and REPEAT, and REPEAT.”
If you would like to book a meeting at BIBA 2022 with a member of the Broker Insights team, submit an enquiry via the Contact page on our website or get in touch with your Broker Insights representative.