NTR can offer quotation in 70% of submitted cases
The Network Trading Room (NTR), a pilot scheme for Broker Network members, has written almost £1.5m GWP since it began trading in August 2010.
The NTR provides members with an underwriting service provided by Ageas, Aviva, AXA, Equity, NIG, Broker Network Underwriting and Zurich. Underwriters from each of the represented insurers sit in the trading room.
The NTR has been able to offer quotation in over 70% of cases submitted by members.
Paul Roberts, customer service director at Broker Network, said: “Our Members tell us that the speed and quality of responses coming out of the NTR allows them to reallocate time to other activities such as winning new business which is crucial in these times of prudence.”
Nick Houghton, managing director of Broker Network and Countrywide, said: “Within the trading room, we can see with great accuracy what the impact of insurer strategy is to Network members, and step in and change it where necessary. The outcome is dedicated underwriting, consistent service levels, exclusivity and competition for Network brokers – all the things our members have told us they need to make their businesses stronger.”
The NTR is currently being piloted with 50 Broker Network Members with a view to rolling the service out across all members.
