E-broking 2011: E-trading capability will develop to achieve premiums of all sizes in future
At Insurance Age’s inaugural e-broking event, Andy Heap, director of Digital Reach, questioned current assumptions about e-trading and assessed how the situation would develop describing technology as “very clever people coding human behaviour.”
He divided the commercial market into four strands incorporating below £1,000 in premium, up to £10,000, up to £25,000, and above. Mr Heap said that e-trading capability was available in the first two categories, bar for claims management, and that even 70% of the two top levels could involve e-trading.
Mr Heap highlighted that currently adoption was almost exclusively restricted to the smaller premiums with it growing patchily by premium size.
However he predicted that, comparing the progress
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