Underwriting agency secures a multi million pound deal with Endsleigh
Iprism, the online SME comparative quote facility for brokers, has signed a multi-million pound distribution deal with insurance intermediary Endsleigh.
Iprism underwriting agency clinched the deal, which will be worth several million pounds in gross written premium, ahead of a number of leading rivals who contended for the business after it was put out to tender in the first quarter of 2007.
The deal marks the beginning of the next phase of development for iprism and is one of several new intermediary channel partnerships currently being announced which will significantly extend iprism’s distribution reach.
Sara Newell, SME strategy manager of Endsleigh, said: “A range of potential partners was sought as part of our growth strategy. Each was considered with great care with iprism coming out the clear choice as it offered the widest scope and opportunity for our business and customers.”
Iprism CEO Gary Burke, said: “We’re thrilled that iprism has secured this partnership, particularly as competition for it was so fierce. The access we can now give to brokers via our panel of insurers will facilitate their ambitions and provide greater breadth of distribution for iprism’s insurers.”
The deal is part of iprism’s strategy of signing 500 brokers and intermediaries over the next few months rising to 1,000 brokers during 2008 enabling it to write over £100 million of business annually.
