Reinsurance News

Motor insurer ERS launches API trading with Verex

23rd November 2021 - Author: Matt Sheehan

Specialist motor insurer ERS has announced the launch of a new digital, full-cycle API trading capability called Plug in to ERS, alongside Verex, a provider of connected services to vehicle manufacturers and their customers.

ers-logoVerex Group is the exclusive provider of connected data services to 16 leading vehicle manufacturers in the UK.

Plug in to ERS is designed to enable brokers to connect their policy management platform directly to ERS’ back-end systems and pricing models in real-time, without the need for third party technology.

This allows for trading across the full customer lifecycle, from new business quotes and MTAs, through to renewals and cancellations.

“We see more and more brokers improving their digital capabilities,” said ERS Active Underwriter Martin Hall. “More often than not, they want to connect directly to insurers to get their latest rates in real-time. The more technology advanced providers, like Verex, are also looking to digitalise their entire trading models with insurers – Plug in to ERS enables brokers to deeply integrate into our systems”.

Hall continued: “We believe that there are significant efficiencies for brokers and insurers that trade digitally and expect that, as more brokers digitalise and see the value, Plug in to ERS will become an important distribution method in the coming years, alongside ERS eTrade and our software house integrations. We are delighted Verex has joined ERS as our first Plug in to ERS partner and are actively seeking more brokers to trade via APIs”.

Sophie Jones, Head of Insurer development at Verex, also commented: “At Verex we have exclusive partnerships with vehicle manufacturers to provide a portfolio of connected insurance services that requires us to have access to insurer’s latest rates in real-time to deliver the very best service to our customers. We invest in cutting-edge technology and data services to ensure we offer a market-leading customer journey and that is why we are delighted to be partnering with ERS.”

“Their solution allows us to deliver the integration we need to trade the full lifecycle across our range of connected services. We’re excited to be the first adopter of Plug in to ERS and to add them to our panel of manufacturer insurers and the team at Verex look forward to developing our relationship with ERS in the coming years.”

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