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Press release:

Ref: OGI0211
23rd April 2010

Open GI Process over 2 million Aggregator Quotes a Day

Insurance quotes generated by Open GI’s market-leading eAggregator solution have risen above 2 million per day.

The exact figure recorded was 2,021,135 quotes in 24 hours. The increase in quote volumes is another sign that insurance providers are continuing to embrace the aggregator distribution channel. According to figures published last month by YouGov the price-comparison market is now worth an estimated £500m a year.

Launched in 2007, eAggregator helps insurance providers achieve product listings with major comparison sites by providing a seamless connection to their Open GI quote engines. This increases sales opportunities without the high costs associated with online marketing.

eAggregator now provides access to 15 comparison sites, including leading brands such as moneysupermarket.com, GoCompare and Confused.com, with product lines covering motor, home, commercial vehicle and bike risks.

Recently launched Octagon Insurance, is one of a growing number of companies on eAggregator. Chris Hill, CEO of Octagon Insurance, commented: “The aggregator model has continued to mature greatly over the past 12 months. The ethos has shifted away from the narrow view that price is king, to focus more on the quality and level of cover. Providers recognise that with the right products backed by the right software, aggregators can be a cost-effective way to increase revenue and build a comprehensive prospect base.”

Open GI Sales & Marketing Director, Simon Hughes, said: “In the first quarter of this year our eAggregator engines served over 100 million quotes on behalf of our clients. With more insurance providers coming to realise that aggregators can be an enabler rather than a threat to their business, I predict these latest figures will continue to increase for the foreseeable future. The only question now is how long it will be before we see price comparison sites for SME products.”

For More Information contact:
Stacy Prosser
Marketing Team Leader
Open GI
Tel: 01905 754455
email: stacy.prosser@opengi.co.uk

Notes to Editors:

Open GI supplies market leading IT solutions to insurance brokers across the UK & Ireland. With 25,000 users in around 2,000 firms, the company has a 40% share of the UK broker market and is committed to technological innovation. Open GI technology enables personal and commercial lines brokers trading in standard and niche markets to streamline business activity and become more profitable. With a workforce of 300 people and a 30 year heritage, the company enjoys a strong financial performance. For the year ended 31 st May 2007 Open GI reported revenues of £27.3 million and an operating profit of £13.6 million.