Brokers can bind business online from 1 June
Loss recovery insurance (LRI) specialist Lorega has struck a deal with internet trading solution Broker2Broker to enable brokers to bind business online from 1 June.
The new service supplements the existing delegated authority agency facilities offered by Lorega and is aimed at smaller brokers who may place loss recovery insurance infrequently.
Malcolm Harvey, chairman of Lorega said: “We appreciate that placing cover can often seem a time consuming task so we are working with Broker2Broker to offer brokers with a more efficient electronic route via LoregaOnline.
"This move will especially help those brokers who only sell a few LRI policies each month as there is no requirement for a minimum level of support.”
The new service will also offer brokers 20% commission on all Lorega products, 24/7 underwriting access, full technical support during normal office hours and free access to the full range of Broker2Broker on-line insurance products.
Jason Gandy, chief executive. at Broker2Broker Online Underwriting welcomed Lorega’s decision to use its system to provide brokers with online access to its LRI products: “Having built a strong reputation for enabling brokers to transact business quickly and efficiently we are delighted that Lorega has put its faith in us to deliver their new online facility. By providing their partners with a combination of proved technology and knowledgeable human support we intend to become a major conduit for their fast growing loss recovery insurance business.”
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