News...
Insurance Day, 20th September 2005
AIG to provide extranet-based product
Insurance provider AIG Europe (UK) has joined forces with independent Lloyd’s broker John Holman & Sons to launch a new travel insurance product available to brokers through a high-tech extranet system. The aim of the system is to reduce administration costs while ensuring compliance with Financial Services Authority (FSA) regulations.
The Websure extranet technology has been developed by Sheraton Systems in response to FSA rules on insurance sales. The system guides the broker through the necessary regulatory steps when selling a policy and allows key facts, documents and policy wordings as well as certificates to be downloaded and printed at the point of sale.
The extranet eliminates the need for brokers to rekey information and store stocks of pre-printed material.The travel insurance product, which will be distributed via John Holman’s network of over 5,000 independent brokers and intermediaries, includes annual multitrip, single-trip and gap-year policies.
“We’re confident the new product and technology will streamline
the travel insurance sales process for brokers and their customers,” said AIG Europe (UK) travel manager Jon Cooper.
