Moorhouse aims to increase online business

Welsh broker Moorhouse is aiming to significantly increase the volume of SME commercial insurance it transacts via online trading arm Constructaquote.com

Following investment in the trading arm in recent years, a new range of measures are being undertaken to close the gap with rivals, according to the broker.

The Constructaquote team is being expanded, and has recently seen the addition of Aashish Nanavati – previously the head of audience development at FT.com.

Prior to this, Nanavati was the head of Media Program at PartyGaming.com. He will be responsible for the execution and delivery of the strategic plan for Constructaquote.

Moorhouse is seeking to raise additional capital from insurers or private equity to help strengthen the online trading arm.

Moorhouse chairman and CEO Lyndon Wood said: “We have had the vision and determination for the past three years for Constructaquote to become one of the leading players in this marketplace.

"We are keen to raise capital and recruit other board-level specialists to strengthen Constructaquote with others joining, we hope, early next year.”