Insurance provider AIG Europe (UK) Limited and independent Lloyd's broker John Holman and Sons Limited are to jointl

Insurance provider AIG Europe (UK) Limited and independent Lloyd's broker John Holman and Sons Limited are to jointly launch a new travel insurance product available to brokers through a high-tech extranet system.

Published: 08 Sep 2005

Insurance provider AIG Europe (UK) Limited and independent Lloyd's broker John Holman and Sons Limited are to jointly launch a new travel insurance product available to brokers through a high-tech extranet system.

Jon Cooper, travel manager, AIG Europe (UK) Limited said that the new
extranet technology is extremely easy to use and has been designed with
FSA regulations in mind to guide the broker through the different stages
of the sale to ensure compliance without any unnecessary additional
paperwork.

"We are confident that the new product and technology will streamline
the travel insurance sales process for brokers and their customers,"
said Cooper.

The travel insurance product, which will be distributed via John Holman
and Sons Limited's network of over 5000 independent brokers and
intermediaries, includes annual multi trip, single trip and gap year
policies.

According to the company, the new offering reduces administration while
ensuring compliance with Financial Services Authority regulations. The
Websure extranet technology has been developed by Sheraton Systems
Limited in response to FSA rules on insurance sales.

"The system guides the broker through the necessary regulatory steps to
selling a policy and allows key facts documents and policy wordings and
certificates to be downloaded and printed at the point of sale. The
extranet system replaces the traditional 'pad' fulfilment method and
eliminates the need for brokers to re-key information and store stocks
of pre-printed material," said an official statement.

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