Thursday, April 4, 2013

Open GI and PowerPlace launch online SMES proposition

Companies set to target micro SMEs after Open GI takeover of PowerPlace

Open GI chief executive Chris Guillaume has announced plans that Open GI and PowerPlace work together to focus on the high volume micro-SME market.

After Open GI's recent acquisition of PowerPlace, the companies are set to launch a new property-based business-to-consumer (B2C) online proposition, including the brokers quote and buy products, websites and works with a new insurer-based underwriting platform that will insurers real-time control over products.

PowerPlace has small and medium-sized enterprises trade provisions that are already in use in its commercial lines business developed.

PowerPlace chief executive Nick Giddings said: "In the past four years, PowerPlace has established itself as the accepted standard for SMEs in the market. We are approaching £ 100 million of annualised premium about 15 lines of the small and medium-sized enterprises and the support of more than 1,200 brokers and insurers have 13.

"The product standards lend themselves to B2C distribution, and will our broker partners not only to protect their market share, but to grow by enabling efficient, comparative trade and meeting the increasing consumer demand for online allow access.

"Our strategy of offering important brokerage free, branded, quote and buy B2C websites is a natural progression and only possible with the technology of Open GI."

Guillaume said: "our strategy is simple: build on existing benefits PowerPlace to brokers offers while providing access to new distribution channels for the entire market.

"In Parallel, we will switch insurers to monitor, manage and distribute their products through a web-based, PowerPlace solution over it. This allows them to build once and distribute through multiple channels.

"For the low premiums, low margin SME subsector this PowerPlace take it to the next level and further cement it as the standard for small and medium-sized enterprises trade."

The company said the technology would be made available on the market in June.

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Title Post: Open GI and PowerPlace launch online SMES proposition
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Author: Mohammad Zulfi Satriawan

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