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Press release:

Ref: OGI0196
10th February 2010

Open GI & Broker Network Launch New IT Start-up Proposition

Open GI and Broker Network have joined forces to create an exclusive new start-up proposition for would be entrepreneurs entering the broker market.

Both companies are market leaders with over 40 years’ combined experience, making them ideally placed to advise start-up brokers on their trading requirements.

The proposition which launches this month is set to encourage more start-ups to enter the broker market, bucking the recent trend which has seen the number of companies authorised by the FSA to carry out general insurance in the UK decline by 12% since 2007.

The new proposition offers start-up brokers all the benefits of Broker Network Membership with the addition of the following Open GI system benefits:

• Discounted software licensing fees

• Flexible payment terms, subject to conditions

• Free Enhanced Support Service

• Discounted website builds

Simon Hughes, Sales and Marketing Director, Open GI, believes the proposition will encourage new entrants to the broker market. He said: “We are continuing to see an increase in people contacting Open GI with the view to starting up a brokerage, which is encouraging. New entrants to the market often bring fresh ideas to the table and help drive innovation. As an industry it’s important that we try to do all we can to support would be entrepreneurs.”

“By partnering with Broker Network, brokers will gain access to enhanced commission rates and support in areas such as Compliance, Marketing and HR. The technology we are providing is designed with start-up brokers in mind, focusing on efficiency and reduced administration. We understand how difficult it is trading in your first year which is why the reductions in IT costs will be so beneficial.”

Scott Bennett, Divisional Head of Sales, Broker Network, said: “The new proposition for brokers provides more than just monetary value, it is designed to provide brokers with the confidence to establish a successful foothold in the broker market. The decision to partner with Open GI was simple, we wanted to combine our experience in broker support with the market’s leading software. Open GI is the most experienced software provider in the industry and they’ve demonstrated a real commitment to this project with substantial savings when brokers need it most.”

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.