RSA's new London trading site will bring the insurer closer to brokers

RSA has opened its fourth trading site for top commercial brokers at its new London home at Fenchurch Street.

The new Platinum centre is available to brokers to use as a meeting place and for face-to-face trading with underwriters.

RSA commercial managing director Jon Hancock said the move was in response to brokers telling the insurer to get closer to them.

It follows the successful launch of three regional Platinum trading sites over the past year in Redhill, Edinburgh and Leicester.

“This site continues to show our commitment to our broker relationships,” Hancock said. “All those sites are stocked with trading underwriters who have lots of authority to make trading decisions.

“[Now] we are much more accessible to brokers and it is much easier and faster to get a decision from us. We can get to know them and their customer better.”

Growth projections

Hancock said that the trading site had already written a significant amount of business since it opened four weeks ago.

While not disclosing figures, he said that on average the insurer was writing more than 25% in new business at the other thee Platinum trading sites and had doubled the number of quotes.

“We are seeing more business, and with the trading site it is easier to articulate the type of business we want,” Hancock added.

He said investments in divisions like the trading centre would help the insurer to communicate its strategy more clearly to brokers.

“If we are going to compete in a tough market we have to be really good at what we do – so making us really easy to do business with involves real investment in processes and systems,” he said.

RSA has previously said the move does not affect its relationship with other non-Platinum intermediaries, who continue to trade with the insurer by phone and electronically.

The other trading sites are in Birmingham, Cardiff, Glasgow, Leeds, Manchester, Horsham and Ipswich.