E-Distribution and Trading
in the Simple Commercial Space
Nick Giddings
Chief Executive Officer
Simon Hughes
Sales & Marketing Director
Open GI
Definition of Term (i.e. what is E-Trade ?)
• A method of trading whereby technology is used to connect
buyers and sellers
• The extent to which technology is utilised in this is variable
• The more complex the “product”, the less end-to-end automation
E-Trade might include any of the following:
• Systemic data capture
• Auto-rating of a product
• Data connectivity in the supply chain
• B2B / B2C ecommerce
All of the above “bring together buyers and sellers”
• Personal lines insurance is almost fully e-traded, end-to-end
• Web is the predominant channel
• Price comparison web sites dominate private car
– Initiate close on 60% of all new business sales
– 2013 estimated to generate c. £7bn of new business sales
Current Trends: The Move to Mobile
Current Trends: Manifestation of Mobile in Personal Lines
• Confused.com statistics:
– Since Jan-12, 20% decline in desktop visitors
– Since Jan-12, 10% increase in mobile & tablet visitors
– Q1 2012 – Q2 2013, mobile visitors grown from 6% to 15%
Segmentation of the SME Market
Source: Datamonitor, UK SME Insurance 2012 Report, published November 2012
Are Brokers Losing Market Share of SME ?
Source: Datamonitor “Targeting SMEs in UK General Insurance” (2004)
Source: Datamonitor “Targeting SMEs in UK General Insurance”(2007)
Source: Datamonitor “UK SME Insurance” (2011)
SME Buying Behaviour
Source: Datamonitor, SME Insurance Survey 2012
• For Brokers
Access to a market of auto-rated SME products
Comparative rating / covers
Fully integrated (Open GI only)
Out-of-the-box ecommerce strategy
• For Providers
Instant distribution to an agency base of 1,200
Agency Management and cash collection
Real-time rating and document control
E-enablement of products
Multi-channel distribution
Channel Segmentation
PowerPlace Live Policy Count by Channel
In Office Broking
• Growth as Brokers look for
• 100% growth in 2years
• vSME biased