The number of brokers using Xbroker, the online comparative quotation system from broker Moorhouse Group, has increased by 27% in April.
This followed a targeted marketing campaign highlighting the breadth of product available through Xbroker and the strength of the overall proposition. Other areas of the business also saw rapid growth during the period.
The new Moorhouse broker account transfer facility – for brokers to place books of business through Xbroker – has attracted £750,000 of new business since its launch three weeks ago. The facility helps smaller brokers gain the maximum value from small ticket commercial portfolios.
All let property, shop, and tradesman risks above £20,000 are eligible. Moorhouse’s high net worth motor product, launched in February, also made a strong start by achieving £250,000 of new business through Xbroker in its first month and is now on target to reach £4 million in gross written premiums annually.
Moorhouse chairman Lyndon Wood commented: “We are in a very focused growth period at the moment having implemented our hypergrowth strategy at the beginning of the year. While I am delighted with developments for Xbroker so far, this is the result of intensive and ongoing efforts and I believe there is plenty of potential for further expansion. Xbroker provides brokers with a first class service and the ability to place business fast with the minimum of fuss.”
Moorhouse Xbroker products are underwritten by a panel of leading UK composite insurers with same-day policy issue and up to 25% commission to brokers.