The new service will sit alongside The Exchange’s existing general insurance service, giving IFAs the option to use the one that best suits their needs.
The launch greatly expands the range of general insurance products intermediaries can purchase via Exweb which now includes accident, sickness and unemployment cover, commercial, health, home, marine, motor, pet, professional indemnity and travel insurance. The service gives intermediaries access to a number of leading UK insurers and provides competitive commission rates for both new and renewal business.
The Berkeley Alexander service will also be fully integrated into AdviserNet Web Builder, The Exchange’s website building tool, enabling IFA clients to purchase a range of general insurance products via the IFA’s website, with the IFA receiving commission for each transaction.
As part of these arrangements Berkeley Alexander will market AdviserNet Web Builder, Exweb, and Exweb Broker, The Exchange’s portal for non-regulated brokers, to its network of 6,500 members.
David Child, chief operating officer of The Exchange, comments:
“The requirements of regulated and non-regulated brokers are set to converge with the onset of general insurance and mortgage regulation. As this happens we are developing Exweb into a trading platform that gives intermediaries a single access point to all the main personal finance products.”
Ted York, managing director at Berkeley Alexander, comments:
“The reach of the Exweb portal into the market makes it the natural partner when distributing products to intermediaries. These arrangements will make our general insurance services instantly available to The Exchange’s 18,500 users.”
