This includes building new regional panels for personal lines and commercial lines business, with innovative new core products. Members will also benefit from a series of integrated add-on products, such as the Keychoice RAC fully integrated breakdown recovery scheme. Over 170 brokers have already signed up for this product, with some experiencing a resultant increase in sales of 25%.
Insurers who join the new Keychoice panels will have greater access to high street brokers, one of the most profitable channels in the UK insurance market. As Keychoice products are exclusively available through SSP, its unique position and make up mean its members write highly profitable business for insurers.
With all brokers using the same technology platform, Keychoice provides a holistic and continuous view of how they are trading. The meaningful insights generated mean insurers have the unique perspective required to understand the best brokers for particular business, fine tune their product performance and extend their trading footprint to new brokers and territories.
Brokers gain a significant competitive advantage from these enhanced-rated products, driving greater adoption. This, in turn, generates greater volumes of data, which enables further fine-tuning.
Ron Atkinson, Distribution Director at SSP, said:
“Keychoice has gone from strength to strength over the last three years, with an additional 40 brokers having already joined in 2017 and a further five signing up at our SSP Broking launch event.
“I am excited by the development of this unique solution that broadens our remit and further ensures our customers’ needs are at the heart of everything we do. As we continue to work with the industry, we are looking to engage with other insurers to deliver the most competitive products to help support our brokers.”