’Our wider strategy for Movo this year is very much to get back to our roots and focus on establishing and supporting broker start-ups,’ says manager
Insurance broker network Movo Partnership is looking to “get back to its roots” following the launch of its integration with Quote Portal.
That was according to broking and insurance relationship manager Jordan de Saa, who told Insurance Times that focusing on establishing and supporting broker start-ups was part of Movo’s wider strategy for 2023.
Quote Portal is an independent quoting hub for open market general insurance products with an integrated underwriting platform.
A statement announcing the launch earlier this week (24 April 2023) said MGAs will have direct distribution to nearly 300 brokers in the Movo network through the portal.
De Saa said integrating with the Quote Portal was the latest in a series of technology initiatives launched since acquiring software provider Durell in 2022.
“[It brings] those tech capabilities in-house to directly benefit the Movo Group’s broker base,” he said.
”Our wider strategy for Movo this year is very much to get back to our routes and focus on establishing and supporting broker start-ups.”
Target
In February 2023, Movo announced it had increased its gross written premium (GWP) to £68m by year end 2022 – up from £40m GWP in 2021.
Read: Movo Partnership scores hat-trick of broker acquisitions
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During this period, the network also upped its membership from 52 to 66.
Movo expects to further grow the business by 30% in 2023.
And de Saa said that so far in 2023, the company’s appointed representatives (AR) network had seen an uptake.
“In the first quarter of this year, we’ve already successfully launched more start-ups on our AR network than we did throughout the whole of 2022,” he added.
“We will hit our target of 90 ARs this year comfortably and expect to be at 100 members and £100m GWP by this time next year.”
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