The Movo Partnership Network (Movo), has today announced the launch of MIP its new insurer portal. The portal gives insurers a simple and quick way to see all the relevant profile information it needs on each of Movo’s broker members and helps facilitate efficient trading.
Jordan De Saa, Broking & Insurer Relationship Manager at Movo, comments: “MIP has been developed in response to insurer feedback; they told us they wanted a tool that would make it quicker and easier to identify those brokers they wanted to work with within networks. We’re delighted to be the first network to deliver on this. The portal essentially makes it more transparent, quicker and easier for insurers to trade with our members. It gives them complete transparency over each of our brokers and means they can delve through a lot of data quickly and efficiently, for example to quickly establish a broker’s location, size and GWP, the mix of business each broker has, or potential schemes.”
Later in the year Movo plans to expand the portal to allow interactive exchange directly between brokers and insurers so that any relevant data can be distributed quickly and efficiently.
Jordan De Saa continues: “We know that the more solutions we deliver, leveraging the benefits of technology, will mean more time for brokers and insurers to focus on trading which will ultimately help everyone’s profitability.”
The Movo Partnership was set up in 2019 by a collection of brokers to take advantage of sharing compliance and operational functions, improving buying power and to help its broker members have more time to do the most important element of their jobs, which is client servicing. Members retain 100% of commissions and all profits are reinvested by the business for the benefit of the membership and the future of broking. It exists to be the most cost-effective way to run a brokerage and to encourage new start up brokers, replacing the brokerages in the market being lost to M&A activity. The network expects to reach 75 broker members and £65m GWP by the end of the year.