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Press release:

Ref: OGI0174
9th September 2009

Open GI Launches New Back Office Pricing Tool For Brokers

Open GI has launched a new pricing tool that enables brokers to apply real time rating flexibility through their core trading system.

Active Quote was originally designed to provide brokers with pricing control in an online environment, enabling them to set rules to control the flow of business through specific product lines or insurers at specific times. Recent developments will now enable brokers to apply this same functionality through their core Open GI system.

In broad terms, the Active Quote for Core solution functions in a similar way to its online variant, allowing brokers to set rules and conditions that permit the modification of premiums. Having this functionality within the core system provides brokers with greater opportunity to exploit their specialist knowledge and automate deals that are specific to their target market.

Off screen discounts can be applied as a percentage, or as a fixed amount with changes made in real time, providing instant pricing flexibility. This makes forecasting for campaigns as accurate as possible. Active Quote applies to Open GI’s standard quotation engines for Motor, Home, Commercial Vehicle and Bike risks.

From an insurer perspective, Active Quote does not allow the broker to override any of the checks and balances that exist within Open GI’s robust Core solution. All systemic agreements are maintained and the integrity of the risk and the premium quoted are maintained throughout the process.

Simon Hughes, Sales and Marketing Director, Open GI, said: “Active Quote for the web has been on general release for approaching twelve months now and has been an instant success amongst brokers trading online. However, the ability to systemically influence premium pricing is just as beneficial in a call centre environment.

“The level of pricing control provided by Active Quote for the web and the Core system allows brokers to work with underwriters to secure new schemes and provides greater opportunities to win business. It effectively allows firms to automate the quote process for special deals or off screen rates. The fact that changes can be made instantly is ideal in today’s competitive environment.”

For More Information about Open GI:
Adele Clarkson
Marketing and PR Manager
Open GI
Tel: 01905 754455
email: adele.clarkson@opengi.co.uk

Notes to Editors:

Open GI supplies market leading IT solutions to insurance brokers across the UK & Ireland. With 25,000 users in around 2,000 firms, the company has a 40% share of the UK broker market and is committed to technological innovation. Open GI technology enables personal and commercial lines brokers trading in standard and niche markets to streamline business activity and become more profitable. With a workforce of 300 people and a 30 year heritage, the company enjoys a strong financial performance. For the year ended 31 st May 2007 Open GI reported revenues of £27.3 million and an operating profit of £13.6 million.