THE INSURANCE MAGAZINE FROM OPEN INTERNATIONAL AND ITS BRAND FAMILY: OPEN GI, POWERPLACE, MI AND BLUE FIRE COMMUNICATIONS.
I S S U E
O N E ,
N O V E M B E R
MOBILE & TABLET
FRIENDLY
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09 IS THERE A BRIGHTER HORIZON FOR ADD-ONS?
ALSO INSIDE:
13
OUR SOLUTIONS TO COMBATTING FRAUD
17
DON’T GET LEFT BEHIND IN THE ONLINE RACE TO SERVE SMES
22
MI POWERPLACE STUDIO LAUNCH
COVER STORY:
CHRIS GUILLAUME ON WHAT IS NEXT FOR OPEN GI AND POWERPLACE read Chris and Nick Giddings’ recent interview with Insurance Age’s Jonathan Swif t on pages 6 and 7
Our products speak louder than words ...
Now available via the Open GI Add-on Marketplace: l l l
Commercial legal expenses Home emergency Helmet & leathers
For further information and to apply for an agency: W: www.qdosunderwriting.com/insurance/opengi
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E: insurance@qdosunderwriting.com | T: 01455 852111
Legal Expenses | Motor Add-on | Household Add-on | Business | Underwriting Solutions | Claims Handling
WELCOME FOREWORD BY CHRIS GUILLAUME
Welcome to the very first edition of Open International’s Covered magazine. As a brief overview, we have decided to launch a new magazine that is more newsworthy and one that encompasses all four brands of Open International – Open GI, PowerPlace, Mi and Blue Fire Communications. We hope that you like the changes. This year has been an exciting one with the acquisition of PowerPlace early in 2013, being able to significantly grow our workforce and make huge strides in the marketplace. It has also been a year of great innovation for us as well, with a number of new product launches that have been well received within the industry. Our eBroker for PowerPlace software has enabled brokers to sell SME insurance through a white-labelled portal on their own websites. Industry wise, fraud is still a prevalent concern. As such, we have partnered with Experian and other leading third-party providers to help combat insurance fraud. The feature on page 13 explains this in more depth. The use of mobile devices to access the internet is also on the increase according to recent figures from the Office for National Statistics. We believe that, as an industry, we need to embrace this by ensuring that there are solutions available to capitalise on this growing market. Page 17 showcases one of the products we have launched this year to assist brokers in selling insurance on the go. As a new year approaches, we are keen to build on a successful year by further building on our relationships and continuing to be at the forefront of broker and insurer innovation.
NICK’S BIT Since joining Open GI, the early feedback in terms of the new solutions that we have developed and launched has been fantastic. Additionally, e-trading specialists, e-Underwriting, have recently launched a niche property owners’ product on the PowerPlace panel, which can be viewed on page 16. With already a dozen brokers signed up since the eBroker for PowerPlace launch and a leading insurer signing up for our Mi PowerPlace Studio platform, we’re confident that, with the segment we are aimed at, we will become the first choice market solution that links brokers and insurers alike. In our view it is a genuinely exciting time for us and the market at large. At PowerPlace we have a strong proposition and this is evidenced with us surpassing 2.5m quotes, which can be read about in more depth on page 21, along with our survey results.
Enjoy reading the very first edition of Covered and, as ever, I would be delighted to talk to you to see how we can help grow your business now and into 2014.
Nick Giddings, PowerPlace CEO
Chris Guillaume, Group CEO.
CONTENTS 04 MARKET ROUND-UP 10 OPEN SUITE – YOUR GATEWAY TO A WORLD OF TECHNOLOGICAL EFFICIENCY 11 GOSKIPPY SIGNS UP TO FIVE-YEAR PARTNERSHIP
IN THIS ISSUE...
06
08
FOCUS ON: CHRIS & NICK’S INTERVIEW
VISIT OPEN GI AND POWERPLACE AT BROKER EXPO & BIBA SCOTLAND 18 POWERPLACE LAUNCHES NEW ACE DIRECTORS AND OFFICERS
14 CALL CONNECTION LEADS THE WAY 15 OPEN GI SMASHES FUNDRAISING TARGET
12 BEAZLEY HOME PLUS LAUNCHES ON OPEN GI
16 E-UNDERWRITING LAUNCHES PROPERTY OWNERS ON POWERPLACE
13 OUR SOLUTIONS TO COMBATTING FRAUD
17 THE ONLINE RACE TO SERVE SMES
20 OVER 150 NEW TRADES ON PER CAPITA LIABILITY FROM COVéA INSURANCE 20 IMPROVEMENTS TO LV= PROPERTY OWNERS ON POWERPLACE
09 IS THERE A BRIGHTER HORIZON FOR ADD-ONS? 21 POWERPLACE SURPASSES 2.5M QUOTES THRESHOLD 22 MI NEWS 22 MI POWERPLACE STUDIO LAUNCH 23 OUTSTANDING TELEPHONY SOLUTIONS
OUR TEAM
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4 NEWS AND FEATURES: OPEN INTERNATIONAL
MARKET ROUND-UP The insurance industry has witnessed quite a number of changes this year, With the Financial Conduct Authority (FCA) succeeding what was the Financial Services Authority (FSA), the Gender Directive fully taking effect and the increase in purchasing insurance online via a tablet or smartphone, to name but a few. According to recent figures, the ban on using gender as a pricing factor for insurance policies has resulted in premium increases of 8% for women, aged 17-20, when compared against average premium rates in quarter 3 of 2012. This is in stark contrast to men of the same age group who have seen an average of £1,000 knocked off their premium – a reduction by 41%. Coincidentally, there has been a significant interest shown among 18-24 year-old women in telematics, perhaps owing to the reported rise in premiums. The use of telematics still remains a relatively new concept, with some critics questioning the reliability of data supplied, in particular, by smartphone apps. Despite a reliance on a good GPS signal to communicate data to the insurer, including location, about which road a driver is on and how they brake and accelerate, few would argue that this isn’t a big development that could transform the way car insurance premiums are calculated. Whilst the use of smartphone apps in regard to telematics may be under scrutiny, the effect that mobile devices are having on the industry continues to gain momentum.
£1,000 Average reduction in premiums for men aged 17-20 since Q3, 2012
Exclusive analysis for Open GI by aggregator site Confused. com revealed a significant increase in customers seeking car insurance through smartphones and tablet devices. Since January 2012, Confused.com has reported a decline of almost 20% in website visits via a desktop computer compared to a rise of almost 10% for mobile devices for the same period. Figures also showed a rise in the number of car insurance customers visiting Confused.com from mobile devices from just 6% in Q1 of 2012 to 15% in Q2 of 2013. These figures are expected to continue to rise, which is generally viewed as a positive change in the industry.
THE EFFECT THAT MOBILE DEVICES ARE HAVING ON THE INDUSTRY CONTINUES TO GAIN MOMENTUM A further positive note for the industry is a report from the FCA which highlights that consumer complaints reported by financial services fell by 500,000 between the second half of 2012 and the first half of 2013, with an improvement in customer service being seen as the main driver in this reduction.
10% Reported rise in visits by a mobile device to Confused.com
half a million Fewer industry complaints by consumers compared to last year
“Our
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Our new AXA Car product has lots of PLUS points. Not only does it provide the same great cover features and competitive commission rate you’ve come to expect from our AXA Car range, but it also benefits from full UK breakdown cover included as standard. For more information on AXA Car PLUS and our complete range of AXA Car products please visit: axaconnect.co.uk/axacarplus
Sean Spinks Personal Intermediary Broker Development Manager
6 NEWS AND FEATURES: OPEN INTERNATIONAL
FOCUS ON READ WHAT CHRIS GUILLAUME, GROUP CEO, AND NICK GIDDINGS, CEO, POWERPLACE HAD TO SAY IN A RECENT INTERVIEW WITH INSURANCE AGE EDITOR-IN-CHIEF, JONATHAN SWIFT.
Asked about the acquisition, how brokers are competing in the online SME distribution space and what to expect next from Open GI and PowerPlace, here’s what they had to say:
ON THE ACQUISITION AND THE ATTRACTION OF POWERPLACE… CG: “We saw an opportunity to create something unique for the market. Our whole business is about supporting the broker channel. And in the area of online SME sales, which is where we think the future for PowerPlace is moving, we saw that we could take a combination of technology and the marketplace that PowerPlace has built and actually accelerate that to support brokers further in the market. “We thought PowerPlace already had a marketleading position in that space. This year we would have sold 200,000 policies via PowerPlace, £80m in premium, and we deal with 15 business lines and 13 insurers all on a comparative, full-cycle basis. So there’s a great foundation for us there to build on. We thought that with the combination of some new business initiatives, new strategy and some new technology, we could actually move that forward both for the brokers and for our partner insurers as well.”
we know that 40% of SMEs themselves are looking online to buy insurance as they’re doing it at the moment.
On the Online SME distribution space… NG: “If we take the commercial lines market as a whole, a £15bn written premium opportunity, brokers continue to dominate to the tune of around 85%. It’s only when you segment that commercial lines opportunity into SME and even further into volume-SME (VSME) that we see brokers are losing market share. On the VSME side, brokers have gone from controlling 90% of that written premium down to 60%, for various reasons. “It’s a business line and area where premiums are reducing and margins are reducing. And brokers, until now, haven’t had an efficient way to trade or a cost-effective way to trade that type of business so have moved away. Those problems are further compounded by the fact the SMEs themselves, and the consumer, are looking online to buy the insurance themselves.”
On the argument that SMEs buying commercial insurance online may end up with incorrect insurance and the knock-on effect to the broker… NG: “There is absolutely, in particular for the medium and more complex side, the need for advice. At the smaller end, we know that 40% of SMEs themselves are looking online to buy insurance as they’re doing it at the moment. “Brokers are our lifeblood. If we don’t give them a solution to meet that demand from the SMEs, then we aren’t doing right for our customers.”
7 NEWS AND FEATURES: OPEN INTERNATIONAL
BROKERS ARE OUR LIFEBLOOD. IF WE DON’T GIVE THEM A SOLUTION TO MEET THAT DEMAND FROM THE SMES, THEN WE AREN’T DOING RIGHT FOR OUR CUSTOMERS.
On the work since the acquisition… CG: “We’ve taken the business and created a new strategy and actually pointed it in a specific direction, which is trying to target the micro, volume end of SMEs because that is where we think the technology will have the biggest impact. “We’ve also added some new technology so the brokers now have the opportunity to take a whitelabel version of PowerPlace to sell directly to the consumers. Available as a website, we’ve also put in …….mobile connectivity ….(so it is compatible with any smartphone or tablet), which we’ve already had good take-up from the brokers on. “The second thing we’ve done is to provide our partners, the insurer carriers, with a toolset to support PowerPlace to allow them to manage their products in real time from a rating and documentation perspective. In addition to that, Nick has put some new business strategies in place to complement the technology strategies as well.” NG: “The early feedback to these elements has been fantastic. We demonstrated the two new pieces of functionality (eBroker / mBroker for PowerPlace) at BIBA earlier this year and have 12 brokers contracted to the B2C solution already, with the first one going live this month and one major insurer that has just signed up to the new PowerPlace Studio solution that is giving insurers, effectively, real-time pricing, is important when we’re getting into the B2C space.”
What next PowerPlace?
for
Open
GI
and
CG: “More insurers, more brokers, more products and more business lines. We already support 1,200 brokers from an agency perspective with PowerPlace and the whole rationale is about giving them choice. Choice in the way they trade via PowerPlace and choice across the panels that we can bring to them. We already have connectivity to six distribution channels through PowerPlace so, from a carrier’s perspective, if they bring the product which we can help them with, PowerPlace will then effectively take that product and do the distribution piece for them. It’s just about increasing that coverage.” *Interview conducted by Insurance Age on 16th October 2013.
To watch the full video please visit: http://www.youtube.com/watch?v=Eg23AgX-HBM or http://www.powerplace.co.uk/news.html
PowerPlace is compatible with any smartphone or tablet
8 NEWS AND FEATURES: OPEN INTERNATIONAL
Open gi and powerplace will be joining forces to exhibit at this year’s unrivalled networking and cpd accredited event, broker expo at the ricoh arena, coventry, on the 14th november. Come and join the largest provider of broker solutions, along with the SME e-trading experts on stands 36 – 37 and 43, to discuss strategies for growth and how our latest innovation, eBroker for PowerPlace, can put you at the forefront of B2C distribution, in a rapidly growing market.
VISIT THE ‘POWER BEHIND INSURANCE’ AT BROKER EXPO
What’s more, there will be some great prizes* you could win in our ‘Guess the number of balls’ competition, so don’t forget to drop by and try your luck. It still remains FREE for Brokers to attend Broker Expo, so if you haven’t registered already please visit:
www.brokerexpo.co.uk *Terms and conditions apply
BIBA SCOTLAND OPEN GI AND POWERPLACE WILL BE EXHIBITING AT THIS YEAR’S BIBA CONFERENCE AT THE INCHRYA HOTEL & SPA NEAR STIRLING, SCOTLAND, ON NOVEMBER 20TH. Now in its 38th year, the BIBA Scotland Conference is specifically designed for brokers to attend, network and pick up opportunities and tips to help them trade competitively in an ever-changing marketplace. Open GI and PowerPlace (stand 31) will be showcasing the eBroker for PowerPlace solution, a new quote-and-buy facility designed to aid brokers who want to trade online and cater for their SME commercial business. The product is accessible via the web and links into the PowerPlace platform, offering real-time quotes 24 hours a day, 7 days a week.
NEXT TIME IN COVERED
At this year’s conference there will be a variety of workshops, high-profile speakers and topical debates for brokers to choose from. In addition, BIBA will also be providing an update to the Scottish market from Chief Executive, Steve White.
For more information on BIBA Scotland Conference visit: www.campaignpartners.co.uk/bibascotland
Helen Barker, Operations Director, answers your questions. If you’ve got a question to ask Helen, email marketing@opengi.co.uk with the subject “Ask Helen”.
Helen Barker, Operations Director at Open GI
9 NEWS AND FEATURES: OPEN GI
Is there a brighter horizon for add-ons? With the recent spotlight on the ban of referral fees and the onslaught of FCA cases relating to the miss-selling of ancillary products, the subject of trading add-on products is currently experiencing a period of flux. In response to this, Open GI has now launched the Add-on Marketplace, a new platform THAT offers first-rate opportunities to help Brokers recoup lost income and generate additional revenue.
The growing popularity of add-ons
Surge in sales
Over the course of last year, brokers have discovered that there is significant benefit in the sale of Add-on products. This in turn has led to a noticeable surge of new products becoming available across the marketplace. Open GI’s Addon Marketplace provides Brokers a perfect platform to help capitalise on this opportunity. The portal already offers 20 leading products from 10 providers with more to follow shortly over the coming months. These products vary from legal expenses to home emergency and replacement vehicle insurance.
Many add-on product providers have reported a 20-30% surge in sales as a result of these developments. The Addon Marketplace helps support this trend because as soon as a product is added to the platform, it can be immediately sold by any Broker via the Open GI system.
In addition, personal lines insurance has also seen significant changes. The continuing trend to search for and buy insurance online is driving down prices; this in turn is leading to quotations that only offer basic cover. The upside of this is that it provides even greater opportunities for Brokers to cross-sell additional products to boost their offering as part of the sale – which is now made even simpler via one fully integrated platform – Add-on Marketplace. Legal expenses, in particular, have had to weather the process of change with the referral fee ban removing some of the ability to generate revenue. The Add-on Marketplace allows Brokers to bridge this shortfall in income with products from BD Elite and First Response and a commercial legal product from QDOS.
ALL IN A GOOD CAUSE
With all of the new opportunities on offer, it’s important that the effort required to take advantage of these market developments is minimal. Open GI’s Add-on Marketplace makes this as easy as possible by integrating directly into the normal day-to-day processes of Brokers. What’s more, our add-on products can be quoted comparatively, making it easier to advise the consumer and demonstrate TCF. Visit the Open GI website to start on your Add-on Marketplace voyage and review the current products on offer.
www.opengi.co.uk/add-on-marketplace
Open GI has recently sponsored a project with Macmillan Cancer Research by developing a product for key protection in conjunction with Keylocator. This project will be providing a way to raise both awareness and funding for this worthwhile charity and brokers can now sell this product from the platform and benefit from a positive association and a good cause.
CURRENT PROVIDERS ON ADD-ON MARKETPLACE
10 NEWS AND FEATURES: OPEN GI
Your gateway to a world of
technological efficiency Over the next few editions of Covered, we will be showcasing a range of our product sets and what they can offer your business, starting with Open Suite. Forming the cornerstone of Open Suite is the Open-i Graphical User Interface which introduces a Windows look and feel style for Brokers to use. Open-i transforms the Back-Office system into an intuitive, point-and-click-style system which improves navigation without losing any Core functionality.
Open-i Quotations, our market-leading quote engine for motor, home, bike and commercial vehicle risks, complements Open-i Graphical User Interface with an enhanced search and sort functionality. It also includes a rapid drill-down into prospect, client, policy and transaction details. Following the initial data capture, Open-i Quotations can deliver multiple styles of quotation within a few seconds of making a request.
Also included within Open Suite is our comparative quote-andbuy solution for Commercial Lines, Open Trader. This complete solution for the electronic trading of Commercial Lines business is fully integrated with our Back-Office and simplifies the quote to sale process by providing access to multiple markets and product lines via Open Market and PowerPlace.
Our Open Attach, Open Word and Open-R solutions complete the Open Suite. A practical document interface and management system that fully integrates with your Core System, Open Attach allows you to attach any files, including Open GI and Microsoft documents to prospect, client or policy records within the Core System. It also provides read-only storage of documents, locking them against editing and deletion within a secure electronic ‘vault’, which is achieved through integration with Windows security features. This advanced file management solution is easy to use and promotes a paperless office ideal. Open Word is an extension of the word processing capability of the Core System that allows you to use Microsoft Word® for oneoff documents and template creation. This solution is a flexible document creation facility with all the formatting and graphical functionality of Microsoft Word®, including use of colour, tables, headers and footers, pictures, charts and objects. All of these are easily integrated into your client documentation, further streamlining the production process.
Last and by no means least is a commercial registers tool that enables you to create professional-looking register presentations using Microsoft Word® templates. By providing a step-by-step approach, Open-R is quickly picked up by staff irrespective of experience. Coloured text, logos and pictures can be included using drag-and-drop functionality. This solution provides easy access to documents and templates, with risk registers that can be used for insurer, client, broker and third-party presentations.
To find out more about how our
OPEN-R
CLIENT / POLICY DATABASE
Open Suite solutions
OPEN ATTACH
PROSPECT DATABASE
can enhance your business, contact your Account Manager today.
OPEN WORD
OUTPUT
PRINT EMAIL
Alternatively, you can call us on:
01905 754455
11 NEWS AND FEATURES: OPEN GI Following phenomenal growth since joining forces with Open GI in 2012, renowned market-leading van and car insurance broker, GoSkippy, has now extended its contract. The new deal will see Open GI provide a wide range of further technology solutions including ‘mCommerce’, which is designed to allow customers to purchase insurance whilst on the move through the broker, 24 hours a day. Other products available include Document Portal, eBroker enhancements and enhanced Support Services. The working alliance has allowed GoSkippy to offer Van, Bike and Motor Insurance all online to a growing consumer market, with further expansion plans to double the 160 current users of the Open GI system, ultimately offering even more choice to customers. GoSkippy Managing Director, Alan Ball, explained “The last 12 months for GoSkippy has been a fantastic journey for us. One in which we wouldn’t have succeeded without the help from Open GI.”
Alan Ball, Managing Director at GoSkippy
GOSKIPPY SIGNS UP TO 5-YEAR PARTNERSHIP WWW.GOSKIPPY.COM
Your Partner in Insurance.
Our enthusiasm lives on. Partnership to us means shared values and commercial objectives leading to shared success. Enthusiasm for real partnership is in our DNA, delivering what you tell us you need – access to people who can make decisions, accurate information and documentation delivered in a timely way; and above all, fairness when dealing with your customers. Visit ageas.co.uk
BUSINESS TRANSFORMATION
WINNER INSURANCE
2008-2012
12 NEWS AND FEATURES: OPEN GI
BEAZLEY HOME PLUS HOME INSURANCE LAUNCHES ON OPEN GI WE ARE PLEASED TO ANNOUNCE THAT BEAZLEY HOME PLUS IS NOW AVAILABLE ON OPEN GI. THE NEW PRODUCT, UNDERWRITTEN BY BEAZLEY SYNDICATES 2623 AND 623 AT LLOYDS OF LONDON, IS FULLY E-TRADED AND PROVIDES COMPREHENSIVE COVER AT COMPETITIVE RATES.
KEY FEATURES INCLUDE: • • • • •
Accidental Damage on both Buildings and Contents included as standard High Sums Insured – up to £1.5m on Buildings and £150k on Contents High Jewellery individual values accepted specifiable up to £30,000 Fine Art and Antiques up to £15,000 single article limit specifiable up to £75,000 Valuables and Personal Possessions away from the home automatically includes:
• • • • •
• Valuables £5,000 single article limit for unspecified items • Unspecified Computer Equipment up to £1,000 and mobile phones up to £500 • Unspecified Pedal Cycles up to £500 or £1,000 in total • Unspecified Items up to £1,000 and Credit Cards up to £5,000 Trace and Access cover up to £5,000 and Garden cover up to £2,500 Unlimited Freezer Food Home Office Equipment up to £10,000 Wine collections up to £5,000 (before specification) Family Legal costs insurance and 24hr Domestic Emergency cover as standard
Think e-Trading’s mid net worth product provides a great balance between comprehensive cover and cost and is well suited to customers who are looking for the comfort of wider coverage and policy limits that usually can’t be found within a standard home product.
If you would like to arrange an agency with Think e-Trading or if you have any further questions, please contact the Think e-Trading Agency Team on: Tel: 0845 00 00 832 Email: agency@thinketrading.com
13 NEWS AND FEATURES: OPEN GI
OUR SOLUTIONS TO COMBATTING In an attempt to assist the industry’s zero-tolerance on insurance fraudsters, we recently launched our Open Client Check solution in partnership with global information services provider, Experian.
Open client check
Placing increased emphasis on checking customers during the quotation stage, the solution provides a selection of checks via Open Client Check including insurance fraud, risk scoring, identity and claims (sourced from CUETM). Latest figures released from the Association of British Insurers (ABI) indicated that the cost of insurance fraud now tops £2bn a year. In 2012, fraudulent activity increased by 23% with fraud responsible for 11 in every 10,000 applications and claims, according to research. These figures are in addition to a recent Insurance Times fraud survey where 52% of respondents felt that
organised fraud rings were the biggest threat to the industry, ahead of exaggerated claimants (35%) and opportunistic fraudsters (12%). However, 65% of the survey’s participants believe that the industry is better equipped at fighting fraud today than it was two years ago. By enabling a range of third-party providers, such as Insurance Initiatives Ltd (IIL) and GBGroup, to conduct a series of automatic checks through Open Client Check, we aim to support the industry’s efforts in driving down fraud. Since its release, we’ve been exploring various types of checks to make our selection even more comprehensive. These include commercial checks, device fraud and bank checks.
Capture of ‘Drivers Licence Number’ in Motorwriter Continuing our commitment to help Brokers and Insurer partners combat fraud, we have made changes to the question set in MotorWriter, enabling you to actively capture your client’s Driving Licence Number (DLN) and gain a competitive advantage whilst doing so. We have made these changes as we anticipate Insurance companies will look to validate DVLA conviction data as part of the Insurance Industry Access to Driver Data (IIADDs) programme roll-out next year. Insurers could also make the collection of Driving Licence Number mandatory. Graeme Trudgill, Executive Director of BIBA, said: “IIADDs will mean that brokers can run checks against drivers’ licences at point of quote, mid-term adjustments and renewals – giving the broker the ability to validate accurate licence information such as the type of licence, how long it has been held and any current motoring convictions. This move should save honest motorists around ‘£15 on their insurance premium.’”
Trudgill adds: “The biggest change to brokers’ practices will be the need to collect the driving licence number from the customer as this will be required to run the search. Although customers are not compelled to provide this information, some insurers may not quote or may increase the premium for those who do not supply it, as they may suspect fraud”. Ultimately the initiative will form one of the growing ways in which insurers will authenticate, enrich and rate Motor Insurance, which will enable you to offer more competitive premiums to your customer base.
WANT TO FIND OUT MORE? Further information about IIADDs is available on the BIBA website at
WWW.BIBA.ORG.UK
14 NEWS AND FEATURES: OPEN GI
CALL CONNECTION LEADS THE WAY Established in 2003 by a management team that previously ran an insurance brokerage, Call Connection now works with more than 85 of the UK’s leading insurers and brokers including Admiral, Aviva, Insurethebox and Swinton. To find out more about the UK’s largest telephone insurance lead generation business, we spoke to Business Development Director Andrew Ward, who explains how telephone lead trading remains very much at the forefront of the company’s activity.
RAPID GROWTH Since staring out, when it traded around half a million personal lines leads in its first year of operation, Call Connection has experienced rapid growth and has had to adapt to changing market and economic conditions. In 2009, it launched an online motor insurance comparison site, Tiger.co.uk, and more recently it has extended its call centre services to include sales fulfilment, administration and tailor-made call handling services that complement the call centre operations of its partners. Talking about these changes, Andrew Ward says: “The arrival of aggregators challenged us to rethink and enhance our lead trading activity as well as improving the customer journey. Today we provide a service that delivers highly filtered telephone leads with active shoppers who are looking for cover. Our partners can match and tailor calls they buy to the schemes they have available to them and change these as and when required to suit their business needs. Increasing pressures on insurers’ own call-handling resources also lead us to develop a number of bespoke solutions for them. We had to be reactive to the needs of our partners and the changing marketplace. Our bespoke contact centre services and solutions, a new growth area for the business, will see us handle in excess of 250,000
inbound and outbound sales, renewal and customer service calls this year, whilst writing nearly £30m of GWP for our clients.”
QUALITY PERSONAL LINES LEADS Whilst the demand for highly specialised outsourced services is growing, the appetite for good-quality personal lines leads also remains strong. Ward says that the appetite for high-quality new business telephone enquiries from partners is stronger than ever. Call Connection helps brokers and insurers to unlock significant additional revenue opportunities by selling their waste telephone leads on to Call Connection. This also, he emphasises, improves the customer journey. “One of our main objectives is to work with more companies to provide a complementary customer service solution that helps the shopper to find alternative insurance providers whilst helping companies to monetise their failed leads. We know there is significant demand in the market for non-aggregator sourced leads and Call Connection can help insurers and brokers to generate revenues from quotes that have not resulted in a sale or from leads for which they cannot provide a quote. Our aim is to introduce the shopper to a brand that is in a position to provide a competitive quote and remunerate the company that originally generated the lead for passing it on.”
Andrew Ward, Business Development Director at Call Connection This year, Call Connection will handle over 2 million calls, generating in excess of 1.25 million profiled telephone leads for its growing list of call-buying partners. It is clear from Ward that the business remains very active and passionate about providing a unique service, using the latest technology to enable brokers and insurers to trade quality leads and make an important contribution to the marketing mix. Based in Ipswich, Call Connection has a 270 strong workforce, with a new office in Newcastle opening for business in January 2014.
www.callconnection.com
OPEN GI SMASHES FUNDRAISING TARGET FOR 2013 Every year, Open GI selects a charity to support via a collective voting process that allows every member of staff to nominate a local good cause. This year, the Midlands Air Ambulance was elected as the registered trust Open GI would help during 2013. Open GI set an ambitious overall target to raise £6,000 and pledged to make up the monetary difference if this target wasn’t met. However, if the target was smashed the company would donate a further £6,000 to the charity. After 10 months of fundraising, which has included everything from gruelling marathons, bike rides, dress-down days to cake sales and generous donations for our upcoming Christmas Raffle, Open GI is delighted to confirm that we have hammered our original target and raised £7,234 to date. By the end of this year we forecast a total donation of £15,000, including gift aid, to the Midlands Air Ambulance, which is a fantastic achievement and will no doubt make a real difference to many lives.
MORE ABOUT THE MIDLANDS AIR AMBULANCE The Midlands Air Ambulance is the only charity responsible for funding and operating three Air Ambulances serving the communities of Gloucestershire, Herefordshire, Shropshire, Staffordshire, Worcestershire and the West Midlands. This constitutes the largest air ambulance operating region in the UK. Since 1991, the Charity has responded to more than 37,000 missions averaging 3,000 per year or nearly ten each day, making it one of the longest established and busiest Air Ambulance organisations in the UK. The Charity’s three aircraft each carry a crew comprising a Pilot, two Paramedics or Flight Doctors plus full lifesupport medical equipment. What is not widely known is that Midlands Air Ambulance receives no Government or National Lottery funding. In excess of £6 million is needed each year to keep its three Air Ambulances operational, which is donated entirely by the public and local businesses, with 4 in 10 of those we help funded by Gifts in Wills. If a patient reaches hospital within 60 minutes of injury (referred to as the ‘Golden Hour’) their chances of survival are dramatically increased. That is why the rapid response of the Midlands Air Ambulance is so vital in an emergency situation.
KEY EVENTS 21st April – London Marathon 28th June – Summer Fete 10th – 11th August – Tour de Midlands Challenge 13th December – Annual Christmas Raffle
Christmas Raffle Prize SPONSORS Professional Fees Edition
£80k Cost to replace a main rotor blade on the WM Air Ambulance
16 NEWS AND FEATURES: POWERPLACE
E-UNDERWRITING LAUNCHES NICHE PROPERTY OWNERS PRODUCT ON POWERPLACE Powerplace has strengthened its property owners panel with the addition of e-trading specialists e-underwriting. This latest offering brings to powerplace a property owners product THAT caters for both standard and non-standard risks. e-Underwriting is the newest division of OIM Underwriting and part of the multibillion-dollar global brokerage and risk management services group, Arthur J Gallagher & Co. Operating purely on a quote or decline model, e-Underwriting allows brokers to place business more efficiently as their automated ratings and quotations remove the need to refer to the underwriter. Commenting on the new partnership, Nick Giddings, CEO, PowerPlace says “It is very exciting to have e-Underwriting on board. Launching the Property Owners product really strengthens our panel and ensures that we are well on our way to providing the most competitive and broker-centric proposition in the market.”
More about Property Owners from e-Underwriting
we are well on our way to providing the most competitive and broker centric proposition in the market
Standard cover includes: • Buildings Sums Insured up to £2m • 25% of building sum insured for loss of rent • High-risk trades/occupations • Listed buildings • Non-standard construction – excluding Thatch • High crime areas To find out more about this latest addition, please contact the PowerPlace Broker Enablement Team on tel: 0844 8921 336 or via email:
brokerenablement@powerplace.co.uk
QUOTE, COMPARE AND SELL ALL VIA 1 QUESTION SET The online marketplace
Welcome to PowerPlace - the online marketplace which streamlines commercial broking by allowing you to quote, compare and sell a range of leading insurance products in minutes. PowerPlace provides your business with the digital standard to offer choice, competitive quotes and real-time efficiencies to your SME base. Talk to us now about our new quote-and-buy facility for SME consumers, eBroker for PowerPlace, and see for yourself the benefits our e-trading platform can bring to your business.
www.powerplace.co.uk
17 NEWS AND FEATURES: POWERPLACE
DON’T GET LEFT BEHIND IN THE ONLINE RACE TO SERVE SMES WITH THE SME LANDSCAPE CHANGING RAPIDLY AS MORE AND MORE CLIENTS SEARCH ONLINE FOR THEIR INSURANCE REQUIREMENTS, HAVING AN E-STRATEGY TO SATISFY THIS SHIFT IN CONSUMER BEHAVIOUR COULDN’T BE MORE VITAL. Our latest developments – eBroker and mBroker for PowerPlace - offer the perfect solution to brokers who wish to take their e-trading capabilities to the next stage by offering a real-time quote-and-buy facility for customers. eBroker for PowerPlace allows you to plug the time-and-efficiency-saving features of our leading online platform PowerPlace into your very own website, so that you can meet the demands of the SME market 24 hours a day, 7 days a week. mBroker for PowerPlace takes this development one step further by allowing you to sell MicroSME cover to consumers on the move via their mobile devices - putting you at the forefront of online product distribution. Still not convinced? Take a closer look below at the additional benefits on offer: · Generate new commercial revenue by providing a solution to a nationwide audience of SME clients searching for insurance online · Improve efficiencies in how you trade at the Micro-SME low premium business end · Create your own look and feel integrated Quote & Buy page that can be branded to complement your current website · Instantly follow up online quotes with an outbound call, text message* or email** enabled by speed of integration · Trade Micro-SME business without any re-keying · Receive access to a dedicated eCommerce support team that fully understands online broking * Subject to SMS integration ** Subject to Open Word and Open Print Manager integration
If you would like to tap into a rapidly growing market and benefit from new commercial revenue, contact the PowerPlace Broker Enablement Team now on 0844 8921 336 or at
brokerenablement@powerplace.co.uk
GUARANTEED TO DELIVER THE BEST VALUE FOR YOUR ONLINE INVESTMENT
18 NEWS AND FEATURES: POWERPLACE
POWERPLACE LAUNCHES ALL NEW AND IMPROVED ACE DIRECTORS AND OFFICERS The online marketplace, in conjunction with leading D&O specialist ACE, now offers ACE Elite Plus, an improved and broader level of cover to provide greater protection and peace of mind to your clients.
Did you know? •
Directors have unlimited personal liability in the event of negligence
With it becoming more and more difficult for employees to keep abreast of the ever-changing duties and responsibilities imposed on them by law and the rise of ‘No win, no fee…’ schemes, D&O cover couldn’t be more relevant. ACE Elite Plus can offer guidance to avert potential incidents relating to employment practices, or in the event a claim arises, the policy: -
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The same laws apply to every company, regardless of its size
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The company can only indemnify a director as long as it’s trading. An insolvent, liquidated or non-trading company cannot
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Directors’ personal assets are at risk
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It does not just apply to a Director or an Officer. Any employee with managerial responsibilities is at risk and can be held liable.
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Will indemnify and provide advancement of Defence Costs and Expenses
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Pay on behalf of individuals including judgments, settlements and damages
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Reimburse the insured company
So what’s new? ACE Elite Plus now offers as standard: •
Maximum D&O limit of £10m (variable limits available below this from £250k)
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One Automatic Reinstatement for the D&O limit (not exceeding £20m)
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50% of the D&O limit for Corporate Legal Liability cover (in addition to D&O limit)
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50% of the D&O limit for Corporate Employment Liability Cover – deductible £2,500 (in addition to the D&O limit)
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£75,000 for Employee Dishonesty – deductible £2,500
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£25,000 for Kidnap and Extortion – deductible £5,000
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Legal helpline / website – www.acegateleyuk.com
Need further information? For more information about ACE Directors and Officers or any of our products and insurers, contact a member of the Broker Enablement Team on 0844 8921 336 or alternatively at broker.enablement@powerplace.co.uk
20 NEWS AND FEATURES: POWERPLACE
OVER 150 NEW TRADES ON PER CAPITA LIABILITY
To assist PowerPlace brokers with retaining and winning new business, Covéa Insurance has expanded its Per Capita Liability trade list to include trades such as: •
Agricultural Consultancy
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Electrical Appliance Servicing
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Fencing & Hoarding Contractors
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Home Tutors
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Pet Grooming
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Refrigeration Engineers
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Shuttering & Formwork
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Stone Cleaners & Restorers
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Vending Machine Installation, Service & Repair Services
If you’d like to find out more about the other new trades now available, please do not hesitate to contact your local PowerPlace Development Manager or the Broker Enablement Team on: 0844 8921 336.
Try Covéa Insurance today on PowerPlace!
FROM COVÉA INSURANCE
IMPROVEMENTS TO LV= PROPERTY OWNERS ON POWERPLACE We are delighted to announce that renewals now automatically invite on LV= Property Owners following improvements to the product’s functionality. This latest enhancement speeds up and streamlines the renewal process - helping you retain and manage your business more effectively. This change builds on our growing panel of products that offer full-cycle performance, strengthening PowerPlace’s commitment to the broker community and our dedication to providing the best possible solution in the market. LV= has also reinforced its relationship and continued support for PowerPlace by confirming the addition of more trades to increase quotability. All of which we will ensure we communicate to you through our updates in Covered.
RETAIN AND MANAGE YOUR BUSINESS MORE EFFECTIVELY
21 NEWS AND FEATURES: POWERPLACE
POWERPLACE SURPASSES
2,500,000 QUOTES THRESHOLD WE ARE DELIGHTED TO REVEAL THAT POWERPLACE HAS NOW EXCEEDED 2.5 MILLION GENERATED QUOTES FOR COMMERCIAL LINES SINCE ITS LAUNCH IN 2009, OF WHICH HALF A MILLION HAVE GONE LIVE ACROSS MULTIPLE PRODUCT LINES. With the shift in Commercial Lines trading online steadily increasing year on year, PowerPlace has adapted and improved so that it can effectively fulfil increasing demand from UK and NI brokers to serve their SME customer base. These figures are strengthened further by PowerPlace’s latest customer survey findings* that showed that more than 58% of brokers have seen a significant increase in online commercial trading, compared with 12 months ago. PowerPlace continues to play a pivotal role in the e-trading arena with the efficiencies it generates for SME businesses and thus is becoming the natural fit and first choice for many brokers, highlighted by 56% of survey respondents. To add to this, PowerPlace has also seen a 10% increase in satisfaction levels against last year, following a strategic plan that has seen a closer working partnership with Open GI and Mi. As ever, PowerPlace will take this intelligence along with general broker feedback to help continually improve the platform as they plan to expand further to support the development of commercial lines e-trading.
58% of brokers have seen a significant increase in online commercial trading
56%
*PowerPlace Survey: 31st March to 19th April 2013 – Sample of 397 PowerPlace brokers.
www.powerplace.co.uk
of brokers, also the majority, chose PowerPlace as their preferred way to trade commercial SME business
22 NEWS AND FEATURES: MI
NEWS In what has been an extremely productive year for Mi, both Axis and Hiscox have recently committed to a multi-year partnership. In addition, PowerPlace has exercised its freedom to trade with our global insurance solutions provider with the Mi PowerPlace Studio platform. Mi will assist Hiscox in the global distribution of a number of its leading insurance products, initially starting with a marine liability product, with work already underway on developing a US property product. The group-wide agreement will see Mi’s flagship solution, Mi Trader, first being released within the Hiscox London Market arena and its multi-currency, multi-tax and multilingual capabilities utilised. A similar deal has been struck with global insurer and reinsurer, Axis. Elsewhere, Octagon Insurance has committed to a partnership deal for the implementation of a tailored claims management system that will help streamline Octagon’s claims function with a flexible solution. To find out more please contact Mi on 0207 190 3200.
Mi PowerPlace studio launch MI POWERPLACE STUDIO ALLOWS INSURERS TO UPDATE PRODUCTS IN REAL TIME, ALLOWING THEM TO REACT TO MARKET CONDITIONS QUICKLY AND ENSURE THAT PRODUCTS ARE ALL UP TO DATE AND AS COMPETITIVE AS POSSIBLE.
Insurance Technology Congress After sponsoring the recent Insurance Technology Congress in London, Mi will be attending the Lloyd’s Technology Day event on Tuesday 3rd December 2013. Consisting of presentations, demonstrations and keynote speakers, this year’s Technology Day theme is e-Distribution and Trading and will see the latest developments in the e-trading arena communicated and showcased.
Placing all change control firmly in the hands of the insurer, Mi and PowerPlace have released their first JOINT SOLUTION, which one global insurer has already signed up to.
23 NEWS AND FEATURES: BLUE FIRE COMMUNICATIONS
Outstanding telephony solutions from Blue Fire Communications
Established in 2009, Blue Fire Communications specialises in providing secure and reliable telephony and data services for Brokers and the wider insurance industry. With an impressive range of solutions that can be tailored to meet the specific needs of your business, Blue Fire can help augment your customer experience and drive greater efficiency ultimately benefitting your bottom line.
Call Management
The Blue Fire Benefits
Designed specifically with call centre environments in mind, Call Management ensures that you optimise every call through Missed Call Alerts, Mid Call Transfer, Interactive Voice Response and Call Recording – helping you to offer a seamless service and retain your valued customers.
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All services are hosted virtually and integrate with your existing infrastructure, which removes the need for specialist hardware or costly onsite upgrades and maintenance
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Offers the peace of mind of a robust, comprehensive service whilst ensuring business continuity
Broadband and Data Connectivity
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Streamlines processes and improves the customer journey, to give your service that competitive edge
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Provides complete flexibility and control with every package tailored to your business’s needs and budget.
Provides a choice of data connectivity solutions, which have the potential to offer you unlimited data speeds, increased bandwidth and enhanced resilience against down time to minimise any business interruptions and maximise productivity.
Inbound and outbound call traffic Supporting Brokers with up to 20 telephone agents, Blue Fire offers various hosted packages for your inbound and outbound call traffic. These include Non and Virtual Geographic numbers that can help boost enquiry rates, improve customer service and even generate revenue.
Want to find out more? For more information about Blue Fire Communications, please contact a member of the Sales Team on Telephone: 0844 557 3080 or alternatively email: sales@blue-fire.co.uk
The wait is over...
Online broker to consumer SME trading is finally here, welcome to...
eBroker for PowerPlace is a quote-andbuy facility for SME consumers directly via your very own branded website. Harnessing the power of leading online platform PowerPlace, it offers you access to single question sets with full web to back-office integration, including secure online payment processing 24 hours a day.
To find out more about how we can help you stay ahead in the online marketplace, please contact the Open GI Sales Team on 01905 754455 or at: respond@opengi.co.uk or visit: www.opengi.co.uk/ebroker-for-powerplace