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Press release:

Ref: OGI0310
3rd January 2012

Significant Business Gains for Markerstudy Retail using Open GI

Markerstudy Retail has seen substantial improvements in its workflow since the implementation of Open GI’s automatic post-quote solution, Open Workflow Manager.

Taking the decision to move from CDL and Insurecom, Markerstudy’s Retail Division, headed by Russell Bence, partnered with Open GI in 2010 as they required exceptional functionality to be able to support their aggressive growth targets. Recently, they wanted to fully automate their e-commerce solution, allowing them to trade online 24/7 with no manual intervention. By streamlining the EDI processing that converts quotes to ‘live’ policies automatically, a ‘no-touch’ quote and buy solution has been implemented, significantly reducing administration time, increasing staff productivity and improving the customer experience with faster processing.

With seven brands in six locations around the UK, Markerstudy Retail has doubled the size of their business in just five years, via organic growth and acquisition. Handling Personal Lines, their rapidly expanding call centre was overwhelmed with the amount of administration needed to ensure online bought policy documentation was issued in reasonable time. With Open Workflow Manager, the ‘hands-off’ processing solution eliminates the post-quote administrative tasks, reducing time spent converting policies and distributing documentation to the client via post or email.

Carl Mannion, Broker Software Manager of Markerstudy’s Retail Division, said: “Delighted as we were to see that our policy levels were increasing every day, particularly on the web, we needed a solution that could help us administer policies effectively and quickly. Not only does Open Workflow Manager reduce the lengthy administration process, it also ensures we deliver excellent service to our customers by issuing policy documentation as soon as possible. This completely automatic solution is now an essential tool in bringing us the business gains we sought and helps us, as a broker, service our clients to a higher standard.

“With the considerable amount of time we have saved using Open Workflow Manager for our online brands, we are looking to implement this within our call centre operation. This would allow our staff to handle even more quote volumes whilst ensuring hassle-free, same day distribution of documents to clients – increasingly important for customer service.”

Simon Hughes, Sales and Marketing Director, Open GI, said: “We are pleased to see a broker like Markerstudy understanding the important gains that can be made by implementing such an automatic way of processing documents. We cannot stress enough the amount of time and effort this solution can save the average brokerage, not only in staff time but in overall productivity, from start to finish. Markerstudy is another successful broker reeling in the advantages that straight through processing can bring.”

For More Information about Open GI:
Adele Clarkson
Marketing and PR Manager
Open GI
Tel: +44 (0)1905 754455
email: adele.clarkson@opengi.co.uk

Notes to Editors:

Open GI supplies market leading IT solutions to insurance brokers across the UK & Ireland. With 20,000 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 350 people and a 30-year heritage, the company enjoys a strong financial performance. For the year ended 31st May 2010 Open GI reported revenues of £35.0 million and an operating profit of £21.1 million.

For More Information about Markerstudy:
Lizzie Smith-Foreman
Head of Group Marketing and Communications
Markerstudy Group
Tel: 0844 854 8714
email: lsmith-foreman@markerstudy.com
web: www.markerstudy.com

Notes to Editors:

The Markerstudy Group includes the insurance arm of the business: Markerstudy Insurance Company Limited and Zenith Insurance plc (acquired in January 2010) plus supporting companies Markerstudy Limited and Zenith Insurance Management UK Limited, providing distribution, claims and administrative support.

The following brands operate within the Markerstudy Retail Division: The Insurance Factory, Insurance Factory.com, Insurance Shop, Insurance Factory Commercial, Mobilers and Caterer’s Club, all of which offer value and choice to a wide range of customers.

Wessex Finance, a sub-prime lending and premium finance facility is also an integral part of the Markerstudy Group.

The Markerstudy Group also encompasses Auto Windscreens, which joined the Group in February 2011, and Tonbridge Coachworks Vehicle Repair Group (which incorporates Tonbridge Coachworks, European Automotive Solutions and Canterbury Accident Repair Specialist) acquired in June 2011.