Fortis Insurance Ltd and MMA Insurance plc (MMA) have become the latest in a series of high profile insurers to add their weight to the imarket etrading portal. Both companies distribute personal and commercial lines products exclusively through brokers and will join imarket this week.

The new additions bring the total number of imarket insurers to 12, including ACE European Group, Allianz Cornhill, AXA, Groupama, iPrism, NIG, Norwich Union, PBS Holdings, Royal & SunAlliance and Zurich. Member companies comprise over 80% of the total UK commercial insurance capacity.

Fortis has always been proactive in the development of electronic business with its intermediaries and Paul Chaplain, Underwriting Director at Fortis, feels that this is the right time to join imarket. He commented: “We’re now confident that there is a very positive drive behind imarket and a high level of commitment from Fortis and other insurers to make it a lasting success.

“We have always been committed as a company to electronic trading, so joining imarket is a natural extension to the way we operate. With over 70% of brokers now signed up to imarket, the trading opportunities for both brokers and insurers within an effective imarket are obvious.”

For MMA, the move supports its continued push into the Commercial Lines sector, as Commercial Director, Derek Plummer explains. “As MMA develops as a Commercial Lines insurer, imarket membership was always going to be part of this development and the timing is now right for us. We regard it as an important new route to market for commercial brokers and it needs to be a part of our future.

“We’re confident that imarket will support our overall commitment to give our intermediaries a much slicker, more convenient service for placing and processing business, particularly since the addition of full cycle functionality. We believe that intermediaries will increasingly embrace the facility.”

Both companies will initially be offering shops, tradesmen, property owners and offices and surgeries, but ultimately the full ranges will be available through online trading.

Peter Knowles, Strategy and Marketing Director at Polaris added: “We are delighted to have two more heavyweights on board. When we asked our broker base recently which insurers they would like to see join imarket, MMA and Fortis came top of the list, so the demand is clearly already there. We are looking forward to a successful partnership.”

Over 2,600 broking firms have now registered to use imarket, with around 30,000 transactions happening every month.

The portal, which is operated by Polaris U.K. Limited on behalf of participating insurers, allows insurers and brokers to trade online, using a secure, fully-integrated system.