Move intended to broaden company's distribution
iprism, the online SME comparative quote facility, has broadened its distribution reach after signing up 250 member broker support network UKGI.
From December, UKGI brokers will gain access to market-leading quotes from more than 10 leading insurers for standard commercial risks in less than two minutes.
The deal - the first of several network tie-ups currently being sought by iprism - brings it closer to its stated aim for 2008 of signing 1,000 brokers allowing it to write over £100 million of business annually.
Iprism CEO Gary Burke said: "We are delighted to sign up our first network and we are seeking similar relationships with other networks which we hope to announce in the spring. We are particularly pleased that UKGI is our first network with its strong emphasis on compliance and compliance training."
UKGI managing director Mike Williams said: "The iprism deal fits perfectly with UKGI’s offering to support broker members with better commission rates and security. We find that when independent brokers come to us they often have significant proportions of their business placed through a variety of markets, sometimes involving sub broking arrangements.
"As such they are not getting the best commission deals and iprism is an excellent way to capture arguably better security, place business more efficiently and gain access to stronger products with better remuneration for our members. Put simply it will mean bottom line improvements for UKGI brokers with recognised security."
