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Press release:

Ref: OGI0202
19th May 2010

Open GI Launches Online Quote and Buy for SMEs

May sees the launch of eBroker for Open Trader, a new online quote and buy solution from Open GI which enables brokers to sell SME products to clients via the web.

The full cycle solution capitalises on growth in the SME market and utilises the power of Open Trader, Open GI’s commercial trading platform, to provide comparative quotes from a range of leading insurers. Open GI’s e-commerce team will handle the web design and integration process.

The solution currently caters for Property Owners and Tradesman. Further product launches are scheduled for release throughout the year.

Open Trader was launched in February 2009 and is already being used by hundreds of brokers nationwide. eBroker for Open Trader uses the platform’s functionality to provide a customer facing Quote and Buy system which allows consumers to fill in their own risk data online using standard question sets.

What separates the software from existing commercial systems is access to a wide spread of products and providers, along with full back-office integration, eliminating the need to rekey data. Both of these features are designed to reduce administration costs and increase conversion rates. The product also includes web design, corporate branding and secure online payment processing allowing consumers to purchase cover instantly.

The launch of eBroker for Open Trader comes at a timely point for the industry with research from Datamonitor suggesting that over a third of SMEs would consider purchasing insurance online. Simon Hughes, Sales and Marketing Director, Open GI, believes the online SME market space represents huge growth potential for brokers. He said: “ Extending our e-commerce technology with a business-to-consumer SME trading solution is a huge step forward. In a recent survey 87% of Open GI brokers stated that they would be interested in providing commercial quotes online. These results clearly indicate brokers’ willingness to be proactive in responding to a change in the market.

“The benefits of electronic trading are too compelling for SMEs to ignore which will inevitably lead to an increase in online distribution. As an IT provider it’s our job to ensure that brokers are well positioned to take full advantage of the opportunities this will create and the eBroker for Open Trader solution allows them to do just that.”

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.