Soundbytes

What is the broker portal?

The Angel Underwriting online broker portal has been developed to allow brokers across the UK to instantly quote and bind a range of directors' and officers' (D&O) and professional indemnity (PI) insurance products online for UK and European small to medium-sized enterprises.

Angel's goal is to offer its agents an advanced but user-friendly online environment that will not intimidate less experienced visitors, allowing them to quote and bind coverage and produce documentation instantly.

How much does it cost?

Premiums on the D&O products start at £70 and PI at £150.

How many brokers are using it at present?

There are more than 500 brokers across the UK currently using the portal - a figure that is growing constantly.

Have you had any feedback?

Listening to feedback has enabled us to offer enhanced coverage and develop new products as well as a faster, quicker and more efficient method of delivering it to the market. As a direct result of broker feedback, Angel has launched a new interest-free direct debit premium payment system, which allows policyholders to pay their premium in 10 instalments.

How will this benefit a broker's business?

The less time an agent has to spend on smaller premium business, the more profitable it is for them. Certain agents that would have turned this smaller business away in the past, deeming it uneconomic, are now able to handle these cases very efficiently using the online technology. Additionally, the burden of premium collections and payments to insurers has been switched to Angel via the direct debit scheme, so the agent can spend even less time per account while still retaining the same commission levels, therefore maximising profitability and freeing up time to pursue new leads.

Are there any future developments planned?

Having just completed the new direct debit initiative, we will look at some new projects. One of the priorities is to create a new brochure for our recently launched residential property management product, to complement our range of publications.