IAG says its new quote and bind system was developed based on feedback from brokers.

The group yesterday announced the PolicyPlace portal’s launch as part of the Intermediated Insurance Australia division’s two-year, $180 million Commercial Enterprise Platform technology transformation.

The portal provides a “streamlined experience for brokers through easier connection and faster turnaround times, with fewer referrals needed due to increased straight-through processing of quotes”, it says.

Broking partners can start using the portal to obtain quotes and covers for Padlock, a CGU-branded commercial property product.

Padlock is the first product on the platform and “all new business quotes will be transacted” there.

IAG says the portal underscores the importance of its intermediated business – which also includes WFI Insurance.

CGU and WFI CEO Jarrod Hill said: “We’ve listened to our brokers, and we’re responding. We know they want a more modern, efficient and streamlined experience so they can better serve their customers. This system will provide that.”

PolicyPlace will not replace other broking portals such as Sunrise and the Steadfast Client Trading Platform, IAG says.  

“It is an additional channel that brokers can access via the CGU broker portal,” a spokesperson told insuranceNEWS.com.au.

The spokesperson says PolicyPlace will have further enhancements this year to accommodate renewal business.