Revealed: The one thing insurers can do to give zest to e-trade service for brokers

By Saxon East and Savan Shah 

Brokers are overwhelmingly in favour of insurers introducing a ‘quick quote’ function on all etrade products, according to results of Insurance Times recently-released etrade survey of service to brokers.

Quote quote allows brokers to get a quote for a product, well before completing all the questions. 

Some insurers have started introducing this function, largely on simple products - and brokers have given a huge thumbs up.

As part of this years Five Star Rating Report etrading 2020, we asked brokers about this sentiment towards quick quote (see results below).

We asked brokers, who selected either Aviva, NIG and Allianz as one of their principal etrading routes, what they thought of quick quote.

We have combined results from all three insurers. 

Head of research Savan Shah said: ”Brokers are really keen on this function. It would save them a lot of time, and that translates into more business. 

“It’s clear that complex products might not be able to have quick quote functionality, but on simple products, all insurers should strive to have this function.

“We are seeing some insurers using quick quote. As quick quote becomes more widespread, any insurer who fails to adopt it will likely lose out on business. 

“It will become that important for e-trading.”