Insurance Age - SSP transacts first live policy via Imarket

Insurance Age - SSP transacts first live policy via Imarket: "SSP transacts first live policy via Imarket"

Software Solutions Partners (SSP) has launched its first live policy via its integrated imarket panel that is currently in pilot phase with a small number of brokers.

Imarket integration has been achieved with three insurers; Axa, Allianz and Norwich Union, for three business lines; Shop, Office and Tradesman. The policy was transacted by A1 Insurance Services of Wetherby.

Ian Darnbrook, managing director at A1 Insurance Services said: “I was very impressed with the simplicity of the system and how the comparative quotes were displayed. The system is very intuitive so does not require a great deal of training and means that we no longer have to use individual insurers’ websites to check rates. This makes things quicker, simpler and more cost effective.”

Martin McLachlan, managing director at Polaris added: "We are very pleased with the progress that has been made. The fact that a major IT provider has achieved integration across a panel of insurers and business lines will have a significant impact on the number of transactions made via imarket as the solution is rolled out to more brokers. We have already seen transaction volumes more than double in the last 12 months and this will drive further growth. imarket is now a reality for brokers and we’re confident of its future success.”

Steve Bow, intermediary director at SSP, commented: "This is good news for SSP’s customers, who will benefit from access to another channel and efficiency improvements. They will be able to obtain comparative quotes, place business and update accounts from a single data entry on their core system saving time and effort. At the same time this will provide extra impetus to imarket as SSP customers currently process around £2.9bn of commercial lines gross written premium."

SSP is now extending the roll-out to additional brokers and is working with other imarket insurers to include them on the panel.