Sourcing and compliance software company, Trigold, developed Runway exclusively for Optoma.
Optoma will continue to take paper-based submissions, though according to chairman, Andrew Seymour, the expectation is that brokers will move to the greater convenience of the new system.
“The system was actually in place in January, but we have been training our staff and testing the system to ensure that it’s all working properly for the launch,” he said.
Seymour went on to say: “We are particularly pleased to have this system running across all five HBOS brands, with whom we place £1 billion worth of business a year.”
Denise Harris, business development director for Trigold, said: “Runway will not only allow brokers to submit cases electronically to Optoma but via Trigold’s Compliance Shield and Prospector, plus it will provide a FSA-compliant audit trail.”
Harris went on to say that Trigold and Optoma were working together to develop a general insurance version of Runway, which would be available within the next two months.
Commenting on the development, Matt Grayson, head of marketing at BM Solutions, said: “This is great news for brokers. The quicker all business is done electronically, the better for the market as a whole. Some lenders still don’t have their technology right and are leaving it very late if they want brokers to get used to it before regulation.”
