News analysis: LV launches marketing tool
LV is launching a marketing and quote-engine tool for small and regional brokers called Proud, utilising South Essex Insurance Brokers' wholesaling arm's technical back-end.
The scheme aims to put brokers in front of small businesses to enable them to upload photos and risk details online. Using SEIB's Riskplacer facility, brokers will be able to place business with LV for small risks including shops, licensed trades and hotels. SEIB will provide brokers with marketing material to mailshot to customers with the local broker's name on. As an added incentive, in the event of a claim, the standard excess will be reduced by 50%.
Colin Baker, business and marketing consultant at SEIB, said: "It will give more power to brokers and help them generate more business. This will appeal to brokers with up to £3m of gross written premium that are serving the local community."
Kevan Aubrey, LV Broker commercial development manager, commented: "Some brokers have replaced face-to-face contact with systems. We want them to see customers but use the technology to help this. We believe this will help reduce fraudulent and inflated claims." Aubrey denied that Proud represented an attempt to create a network, saying that this was not part of LV's plans.
The system is set to go fully live on 22 July from the riskplacer website.
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