PowerPlace develops its RSA and NIG offering

PowerPlace has announced the launch of RSA’s motor trade along with pubs & restaurants from NIG on its online commercial insurance marketplace.

The company stated that these additions continue the roll-out of products by RSA following the launch of its shop and office & surgery products last December. It added that the release marks the final stage of the initial suite of products that NIG is currently making available through the PowerPlace marketplace.

Commercial director at PowerPlace, Nick Giddings, commented: "We aim to have a total of 54 products operational by the end of June. Our target is to have six different products across each major line of business with at least four carriers for each line so that we provide a true online marketplace for brokers. Some might see this as overly ambitious, but our insurance partners are really enthusiastic and queuing up to make more of their products available to brokers through PowerPlace."

PowerPlace CEO, Matthew Reed, added: "It's not just about a consistent flow of product releases. We know there is room for improvement in the functionality of PowerPlace as well as the renewal capability for the products launched last year."

He concluded: "The development team are hard at work on these areas as well. I'm confident that brokers are not only going to be able to access the only true online commercial insurance marketplace by the end of the year, but they're also going to be able to do it more efficiently."