Property scheme specialist Midway Insurance Services is to launch an online quotation system for commercial risks.
The scheme, Elevations Express, will be piloted in January 2004 with ten brokers, before a wider roll-out in March.
Midway has a premium income target for 2004 of £2.5m for the scheme, which will provide a range of products including commercial property owners' policies and commercial combined policies for small risks up to £20,000 premium.
Norwich Union will underwrite the scheme.
The system allows brokers to enter risk data via a secure online portal, which will be either auto-rated or handled by Midway's underwriting facility. Brokers can then print out full documentation, including an FSA compliant client presentation.
Midway managing director Paul Robertson claimed that the system was 50% more efficient than conventional routes to market.
