Free to compete

hands-tied

The recent claim from technology company Acturis that it was set to revolutionise personal lines trading for brokers has brought the topic of real-time pricing to the fore once again.

Historically insurers have been restricted to, at best, a fortnightly update schedule from software providers. Add in the time it takes the insurers to prepare those rates for release and the total waiting period for brokers can stretch to six weeks or longer.

As such, it could be argued that brokers have been comp