Press release:
Ref: OGI0141
26th January 2009
Demand for Open GI’s Active Quote online pricing tool has exceeded expectations with at least one new broker contract being received every week.
Launched in August 2008, Active Quote enables brokers to focus their online business on the most profitable areas of the market.
The solution extends Open GI’s ecommerce portfolio and is now being used by some of the UK’s leading brokers. It is particularly effective for those with aggregator relationships, for whom pricing for a specific market segment is a key requirement.
Right Choice Insurance Brokers is one of many using Active Quote to streamline online trading, reduce costs and increase conversions. Right Choice Managing Director, Mike Joseph, said: “When working with aggregators, brokers often leave themselves open to quote for business that carries little chance of conversion but still incurs click through costs. Open GI’s Active Quote provides us with the ability to manipulate our online pricing to focus on key market areas where we know we can win business.
“This level of pricing control allows us to work with underwriters to secure new schemes. By bringing together our experience and technology we build mutually profitable schemes for the insurer and ourselves ensuring scheme longevity and greater opportunities to win business”.
Chris Guillaume, Managing Director, Open GI, said: “In a market where online trading is fast becoming the norm for personal lines brokers and aggregators continue to increase their presence, the ability to control pricing is a major advantage.
“The solution is another example of where we can expose the benefits of Open GI technology to the web, help brokers maximise their online presence and reduce frictional costs, whilst writing quality business.”
For More Information contact:
Caroline Hardiman
Marketing & PR Manager
Open GI
Tel: 01905 754455
email: caroline.hardiman@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.