NIG joins PowerPlace panel

by Gill Montia

Story link: NIG joins PowerPlace panel

RBS insurance subsidiary, NIG, has been appointed to a panel of insurers that is launching new commercial property owners’ and let property owners’ policies, through PowerPlace.

Towergate subsidiary, PowerPlace, is currently used by over 160 brokers operating off the Open GI platform.

NIG will take its place on the panel alongside Zurich, Groupama, Fortis, MMA Insurance and Towergate Underwriting.

The firm’s head of business development, Vivek Banga, comments that NIG’s strategy has always been to support brokers in transacting commercial business online, adding that the insurer plans to make more products available throughout 2009.

PowerPlace also has plans to announce more products and insurers this year as its user base expands.

The website will be officially launched in April and the unit is currently involved in a series of road shows aimed at regional brokers.

PowerPlace describes itself as a full cycle system. Therefore once a piece of business has been placed, mid-term adjustments and renewals can be processed without the need to re-enter any details.