The British Insurance Brokers’ Association has joined forces with InsurTech Worry+Peace to help brokers bolster their ability to trade digitally.
From today Biba members will have access to Marketplace by Worry+Peace, a platform that is designed to connect buyers of both consumer and commercial lines to insurance providers across the market.
Not to be mistaken as an aggregator, Worry+Peace describes the offering as a “smart, online search directory where brokers can list any and every product they provide making them visible for buyers to find”.
Where a broker has a particular specialism they can also boost the visibility of any listing by using a weekly, transparent auction tool pushing that particular product to appear first, second or third in search results, the InsurTech added.
Innovative
Biba CEO Steve White said: “Through our Manifesto Biba is committed to helping members to adopt new technologies and adapt to our changing market place and Marketplace is an interesting and innovative way for brokers to reach their customers.”
Mike Hallam, Biba head of technical services added: “This new facility is designed to connect insurance providers to insurance buyers and for our members could be an additional route to market particularly where a broker wants to promote a particular type of insurance because, for far less than traditional paid searches, they can bid to improve visibility.
“We see this as a simple to use tool to help members unlock more opportunities and we are excited to be working with Worry+Peace on this new project.”
“We’re delighted to partner with Biba,” concluded James York, founder of Worry+Peace. “Our all-new Marketplace will connect everything insurance in a fair and transparent way.
“Brokers are the perfect community to join this mission – they are the providers behind a diverse range of risks and specialist covers across the UK. With Biba brokers on board, together we will help more people buy insurance better. The journey starts here.”