12 October 2005

UK: Norwich Union launches 'Shop' via iMarket

Norwich Union has successfully launched its "Shop" product via software house Acturis, using the iMarket infrastructure.

The "Shop" product is the first offering in a range of e-trading developments being launched by Norwich Union in the commercial e-trading arena.

This development means that brokers can simply key in risk data from their Acturis system, obtain real time quotations from Norwich Union, then subsequently issue the business on the spot.

Amanda Brown, head of propositions at Norwich Union, says: "Launching ‘Shop’ via Acturis is a major milestone for Norwich Union, and reinforces our strong commitment to i-Market.

“It puts the broker firmly in control when transacting shop business in the commercial marketplace and provides efficiencies and cost savings to both brokers and insurers.

“This is the first offering in our range of commercial e-trading activities - we have more developments planned which will meet brokers’ desire to trade online for commercial business."

Peter Knowles, strategy & marketing director for Polaris UK Ltd, said: "We are delighted that the UK's largest insurer has become the third insurer in as many months to commence integrated trading bringing real benefits to customers , brokers and insurers. This critical delivery reinforces the building momentum of product deliveries to the Acturis group of brokers initially and then to the wider market."

Theo Duchen, co-chief executive of Acturis, added: "It is very exciting to see iMarket become a reality on Acturis. Norwich Union has worked extremely hard with our team to get to this position and it is an important achievement to have Norwich Union connected. Given the size of Norwich Union, this should create significant benefits to our users".

- Ends -

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