Previously the question set was lengthy due to Source’s broad coverage of the general insurance market, and the master broker has received a lot of feedback asking to make it faster.
Source Insurance has revamped its question set to speed up mortgage brokers’ quote journey.
Previously the question set was lengthy due to Source’s broad coverage of the general insurance market, and the master broker has received a lot of feedback asking to make it faster.
Therefore, after contacting its insurers, a number of individual questions have been amalgamated, cutting the time it takes to run through the process in half.
Brian Coulton, head of intermediary at Source Insurance, said: “We are in the age of speed where everyone wants everything straight away and insurance is no different. Just like in the days of the cold war there seems to be a space race in GI to get the quickest quote solution out there.
“Source have in the past looked at things like quick quote to get an indicative price. However, we found that due to the complex nature of how insurers risk properties the pricing was often unreliable compared to the final price, so set about solving the problem of creating an accurate whole-of-market quotation in record time.”
Coulton added: “Over the past year we have taken a lot of feedback from our brokers regarding what developments they wanted to see and one of the major themes was trying to speed up the quote journey without compromising on the depth and quality of the cover we offer – we think we have achieved that.
“Our user testing has gone well and we are now rolling out the development to all of the brokers who use our platform but we have built in a toggle feature allowing the broker to switch to the classic view if they want to.”
