This spring, Source is hitting the road with another round of highly successful Masterclasses. Offering…
The CompanySource has been around for 20 years, constantly developing new technology and new relationships with one primary goal - making it easier for mortgage brokers and IFAs to access a wide choice of quality General Insurance products for their clients. From being the first to provide an electronic GI sourcing system in the UK, providing an advanced extranet for brokers called 'Your Place' allowing a full status check for policies 24/7, developing a side-by-side comparison tool so brokers can compare on quality of cover (not just price) to our our highly successful Flexible Commission tool. At The Source we strive to be the best at what we do - helping brokers.
In the Beginning...In 1993 Sentinel UK Ltd was established. The goal of Sentinel was to help independent financial advisors and their clients get access to a wider choice of general insurance products. In the five years that followed, Sentinel UK Ltd embraced the digital age and became Source Software Ltd and in late 1998 we launched the Version 1.0 of 'The Source' - the UK's first fully electronic GI sourcing system for the intermediary channel. For the first time, this allowed brokers not only to search and compare Home Insurance, Travel and MPPI quotes, but also to submit them online, without a need for forms and client signatures.
The Last 15 YearsAs the years have passed, we have continued to focus on providing exceptional customer service and innovation. By the turn of the Millennium we were able to offer brokers confirmation of cover and policy number by email (another first for the market) and our remote assistance facility, allowing our Technical Support team to log into your computer remotely to help you resolve any technical problems. With the advent of FCA regulation we incorporated a compliance support facility which automatically creates compliance documents for each and every quote. This was accompanied by a broker service extranet we called 'Your Place'. This extranet allows users to check the current status of their clients' cases online and to retrieve case details and compliance documents from our archive, any time, day or night. It also allows brokers to check the current state of their commission account. Not only can brokers retrieve their client's previous documents from our online archives for easy reference, but they can also review their clients' forthcoming renewal premiums in order to identify cases they might consider rebroking in order to maintain renewal retention rates. More recent years have seen the launch of our "side-by-side" quote comparison tool that lets brokers quickly compare quotations in detail (particularly useful in helping brokers demonstrate TCF) and our Flexible Commission tool that allows brokers to set their own commission level between 0 - 27.5%.
2016We spent the best part of 2015 completely rewriting and redesigning our quote platform in order to bring a host of new features to the GI Intermediary market. Successfully launched in December 2015, The new Source GI Platform is built on the latest software and incorporates our exclusive Advanced Quote Technology (AQT). This feature, amongst others, provides the ability to quote for up to 95% of property risks without the need for referral. Plus the extended scope of our question sets means we are now about to offer tailored cover to a wider selection of clients. It's never been easier to make the most of your GI opportunities with The Source.
More Rewarding with The Source2015 also saw the launch of our Broker Loyalty Scheme - Source Rewards. Now over 2000+ members strong, it has already proved a considerable success with the broker market. Complimenting our existing commission structure, the member scheme consistently rewards brokers every time they use The Source. Combined with exclusive offers, competitions and member benefits - GI has never been so rewarding with The Source.
There's a right way, and an easy way to do business. With The Source, they're both one and the same. We believe that everyone who uses our system has a right to fair pricing, clear policy wording and their own hard-earned commission. We help you make the most of your insurance opportunities by sticking to these core values:
- Give a wide CHOICE of COMPETITIVE PRODUCTS.
- Keep quote CONVERSION rates high with COMPETITIVE PRICES.
- Make it quick and easy to COMPARE both price and policy cover.
- Pay the same COMMISSION year after year – regardless of how often business is submitted.
Treating customers fairly doesn’t just mean finding the lowest possible premium We only quote from leading market insurers that your clients will know and trust, with a good reputation for claims handling, so you can be confident in the cover provided. We quote on more than just price to find the best deal for your client - not just the cheapest product. With Source Online, we work hard to treat customers fairly, and brokers too!
Our transparent approach to quoting means that you and your client can see what’s happening at every step of the process. We want to make things as simple for you as possible, which is why, once on cover, we take care of all administration details and keep you updated on each policy via Broker Area. Any MTA's, renewal dates or amendments are automatically stored online by our intelligent software and can be accessed 24/7.
Year after year, we'll make sure that your client is well looked after, and even send you a reminder when their renewal date is due. So all you need to do is sit back and watch the commission roll in.
At The Source, we believe that your commission is just that – your commission Commission rates vary by product and submission method, but once on cover, we continue to pay renewal commission for as long as each policy is live.
We not only aim to make Insurance as easy as we can, but also as profitable in the long term. That's why we guarantee Trail Commission for the full life of the policy, regardless of how much business is submitted or how often - Even after you retire or choose to leave the industry.
The Source has never missed a commission run, so you can depend on us to pay you on the 25th of each month - just like clockwork.
The Source - Committed to helping you make the most of your insurance opportunities.