Open GI and Powerplace unveil new solution for commercial lines business

Technology innovators, Open GI and PowerPlace, have today revealed their new solution to the industry. This new approach will see PowerPlace working differently with both brokers and insurers to offer a fast and easy solution for all commercial lines business.

Open GI and PowerPlace will now offer brokers three ways to trade which will be known as Micro, SME and Complex.

“2015 heralds a new approach for PowerPlace whereby we will offer a solution that will allow both brokers and insurers to trade in a multitude of ways.”

Nick Giddings, PowerPlace CEO, announced:

“Today’s commercial lines market has evolved since PowerPlace started back in 2008. Over the years we have been working with brokers and insurers to understand that a single e-trading solution is not viable to serve the UK SME market. With this in mind we wanted to develop a solution that offered the commercial lines market flexibility and efficiency. This is why PowerPlace has changed.”

Nick Giddings, PowerPlace CEO, announced:

“Following our Management Buyout at the end of 2014, our first priority has been to accelerate the repositioning of PowerPlace in the market. The changes we’re bringing about represent a fundamental shift and expansion in our commercial lines offering and marks the first of a number of significant developments that last year’s transaction is facilitating.”

Chris Guillaume, Group CEO, further commented:

For more information about PowerPlace or the Open International Group, please contact:

Helen Andrews
Group Head of Marketing & PR

Notes to Editors:

PowerPlace is Open GI’s solution for commercial lines business and offers brokers the opportunity to trade online in a multitude of ways. PowerPlace is part of the Open International Group. PowerPlace works with a number of insurer partners including AXA, ACE, Ageas, Covea, e-Underwriting, LV=, NIG, QBE, RSA, Zurich, and Towergate Underwriting.