Imarket transactions have rocketed by 44% in just a month as new insurers join and an increasing number of products populate the electronic trading portal, the company behind the system has claimed.
Transactions have risen from 30,000 in February to 43,000 for March, signalling Imarket's increasing popularity among brokers, according to Polaris.
“Improvements to the market user experience and the expanding range of products on offer are clearly boosting its attractiveness and helping to cement its future as the key commercial lines trading solution,” said Peter Knowles, strategy and marketing director at Polaris.
In addition, more brokers are said to be accessing Allianz and AXA's extranet services via imarket than ever before.
Polaris said the leading commercial insurers had made impressive strides in promoting the use of their extranets via the trading portal, and were enjoying escalating click-through rates as a result.
Of the total number of brokers accessing the AXAipartners website, more than 90% now do so using Imarket.
Allianz meanwhile requires brokers to register on Imarket to allow them access to its Quick Quote extranet platform.
“We are committed to using technology as an enabler to trade commercial lines business effectively,” says Jason Potter, e-trading manager at Allianz.
Knowles added: “Being able to log on to Imarket using one ID and password to click through to individual insurer extranet services are a considerable benefit to brokers.”
