The Movo Partnership (Movo), has today announced the launch of its integration with Quote Portal. The portal is a secure cloud-based platform that efficiently increases insurer and MGA distribution and gives brokers access to some exclusive products not available on any other systems.
It is launching with an initial suite of products from a panel of insurers including Legal Expenses, Household, Property Owners, Office, CAR and Shops with additional products planned to come on line in the next few months. Through the portal MGAs will have direct distribution to nearly 300 brokers in the Movo family currently with a combined GWP of £375m. There are also plans next year to further roll out the Portal and make it available wholesale.
Quote Portal is an independent quoting hub for open market General Insurance products with an integrated underwriting platform. It uses data insights to easily match brokers with insurers and MGAs to facilitate efficient trading. It also allows interactive exchange directly between brokers and insurers so that any relevant data can be distributed quickly and efficiently. It has a customisable dashboard and a full suite of MI reporting capabilities. The products are built to Polaris market standards and support pricing natively or via IHP connection, Polaris imarket or RTE.
Jordan De Saa, Broking & Insurer Relationship Manager at Movo, comments: “We’re very excited to be launching our new Quote Portal at this year’s Movo Conference. Bringing these powerful data insights and EDI quoting capabilities in house will be equally transformative for our brokers needing access to market leading and niche products as it will be for those MGAs and insurers trading with Movo brokers – opening up wholly new distribution opportunities. The portal also makes it more transparent, quicker and easier for insurers and MGAs to trade with our brokers. It gives them complete transparency and means they can access data insights quickly and efficiently.”Movo
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.