The system works on similar principles to online auctions – a fleet operator or broker submits details of the fleet and insurers then “bid” for the policy.
Several insurers have already signed up, including Zurich, Allianz and AXA who, together with the other panel insurers, currently handle more than 50% of the UK’s fleet insurance business.
Initial feedback from fleet managers, including Emap’s Debbie Floyde, has been positive. “It could be a potential godsend and save the fleet manager an inordinate amount of time and legwork,” she said.
The service requires the entering of vehicle registration details, which then autopopulate most information fields. Fleet operators or their brokers then answer a 60-second questionnaire outlining additional details.
The site also hosts a real-time question and answer function allowing dialogue between insurers, brokers and fleet operators.
Paul Samways, director of DFI, said: “We are now able to offer all parties a quick, accurate and highly competitive platform on which to do business.”