Online Multiquote and buy software

PIA (Professional Insurance Agents) is offering various European countries its UK online mulitquote and buy insurance platforms for SME clients either direct or by a business to business arrangements (B2B). The software platforms can offer such policies as:

• (PII) Professional Indemnity Insurance
• (D/O) Directors and Officers Insurance
• (P/L) Public Liability Insurance with Professional Indemnity
• (C/C) Commercial Combined Insurance Policies.

The system is easily adapted into different languages and currencies,issuing fully translated policy documents and schedules for all the main SME type policies such as Professional Indemnity Insurance, Office and Directors & Officers Insurance.

BIBA 2011

I am sure many of our fellow brokers and insurers are getting ready for the BIBA Conference, particularly if they have their own stands.

This year Professional Insurance Agents Limited will be highlighting the growth in online Multiquote and Buy for SME clients needing insurance.

Where brokers and insurers have been relying on traditional forms of marketing for SME business or even modern forms such as call centres, the tide has now changed with a massive swing in buying habits for insurance policies to online such as:

• Professional Indemnity Insurance (PII)
• Directors & Officers Insurance,
• Public & Employers Liability Insurance,
• Office Insurance,
• Commercial Combined Insurance,
• Property Owners Liability Insurance,
• Employment Practices Insurance

In the UK and more recently Professional Indemnity Insurance and Directors and Officers Insurance is starting to be sold online in Europe, PII in Malta, Gibraltar, Ireland and Holland.

Even taking into account late opening and Saturdays and Sunday trading, if brokers and insurers carry on thinking that the solution is B2B they will loose most of their SME Business to the direct supplier aggregators and brokers offering online Quote and Buy solutions for the SME'S.

The best example of this is - How many people now go down to their travel agents to book a flight or holiday? Despite our confident, blind belief that SME'S will always need a broker, with more and more sophisticated software and intelligent Underwriting, the Tsunami is coming and for those broker/insurers ignoring the power of the surfer, they will be swept away without trace.

If they refuse to believe the inevitable that small business will buy their Professional Indemnity Insurance, Directors & Officers Insurance, Commercial Insurance, and Public and Employers Liability "Online".