The Insurance Times e-trading survey 2017 is due out this month. Here we reveal the overall rankings
Brokers have voted Allianz QuoteSME the best insurer extranet and Acturis the best software house platform for e-trading.
Allianz and Acturis scored the best platform providers in the Insurance Times E-Trading Broker Insight 2017.
A strong performance by Allianz took it to the top of the extranet table, overtaking NIG’s The Hub, which had captured top spot in the e-trading survey’s previous two years. Though NIG lost its top spot, it improved its overall score from last year.
Acturis captured top spot among the software house platforms receiving 50 or more responses, with an improved average score. Open GI also scored strongly.
| Extranets >50 responses | ||||
|---|---|---|---|---|
| E-trade partner | 2017 rank | 2017 score | 2016 score (rank) | Ranking change |
| Allianz QuoteSME | 1 | 4.15 | 3.76 (4) | ↑ |
| NIG The Hub | 2 | 4.05 | 4.01 (1) | ↓ |
| AVERAGE | 3.99 | 3.56 | ||
| AXA Connect | 3 | 3.97 | 3.42 (11) | ↑ |
| Zurich (Z-trade) | 4 | 3.92 | 3.12 (14) | ↑ |
| Aviva Fast-Trade | 5 | 3.88 | 3.62(7) | ↑ |
| * Prior year rankings based on larger sample size of companies | ||||
A total of 606 brokers were surveyed during January and February and were asked to score their e-trading platform providers on a wide range of service dimensions. Brokers were asked to score each insurer extranet over 14 service dimensions, and each software house platform over 19 service dimensions.
| Software house platforms >50 responses | ||||
|---|---|---|---|---|
| 2017 rank | 2017 score | 2016 score (rank) | Ranking change | |
| Acturis | 1 | 3.74 | 3.61 (8) | ↑ |
| AVERAGE | 3.55 | 3.56 | ||
| Open GI | 2 | 3.36 | 3.16 (13) | ↑ |
| * Prior year rankings based on larger sample size of companies | ||||
The scores of all the insurer extranets and software house platforms that generated 50 or more broker responses were collated and ranked according to their average scores. The threshold of 50 responses was selected to ensure statistical rigour. Here we provide the key tables averaging the scores each service provider received across all the service criteria, with separate rankings for extranets and software houses.
(Brokers who scored below 50 responses will not have have their results segmented in the report. They are not considered part of the official rankings)
| Extranets 15-49 responses | ||||
|---|---|---|---|---|
| E-trade partner | 2017 rank | 2017 score | 2016 score (rank) | Ranking change |
| Covéa Broker Online | 1 | 4.31 | 3.82 (3) | ↑ |
| Plum Underwriting - Plum Online Portal (POP) | 2 | 4.14 | N/A | NEW ENTRY |
| Hiscox Trader | 3 | 4.05 | N/A | NEW ENTRY |
| Ageas Extranet | 4 | 4.02 | 3.35 (12) | ↑ |
| AVERAGE | 4.00 | 3.56 | ||
| LV= Broker Gateway | 5 | 3.85 | 3.43 (10) | ↑ |
| RSA Online | 6= | 3.82 | 3.57 (9) | ↑ |
| Chubb Online | 6= | 3.82 | N/A | NEW ENTRY |
| * Prior year rankings based on larger sample size of companies |
To allow comparison with other service providers in the e-trading sphere, we have also provided rankings for extranets and software house platforms which generated between 15 and 49 responses.
Covéa Broker Online was ranked top extranet among those that received 15-49 responses, with new entries Plum Underwriting and Hiscox taking second and third places in that group
Aviva came bottom of the main table of extranets with 50 or more responses, but its average score was significantly higher than the average of all companies included in last year’s survey.
Among software house platforms receiving 15-49 responses, iPrism came top, though with a lower score than last time, while SSP, whose systems suffered a major outage late last year, scored very poorly.
| Software house platforms 15-49 responses | ||||
|---|---|---|---|---|
| 2017 rank | 2017 score | 2016 score (rank) | Ranking change | |
| Iprism | 1 | 3.68 | 3.84 (2) | ↑ |
| Applied Systems | 2 | 3.52 | N/A | NEW ENTRY |
| AVERAGE | 3.35 | |||
| SSP | 3 | 2.84 | N/A | NEW ENTRY |
| * Prior year rankings based on larger sample size of companies | ||||
The full Insurance Times E-Trading Broker Insight 2017 will be published later this month. For details of how to purchase the survey, please click here or contact Tomas Imrich on 020 7618 3068 or at tomas.imrich@newsquestspecialistmedia.com
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