INScribe’s five

INScribe, Hiscox’s online broker quote system for small, straightforward risks, celebrated its fifth birthday this autumn. It allows brokers to quote, print and bind cover at any time and has seen more than £5m of new business since its launch in 2005.

Information is transferred on to the Hiscox system, where the policy is then handled the same way as any other. Quote and bind can take as little as five minutes to complete, and there’s no need for a proposal form as a statement of fact is produced.

One of INScribe’s most useful features is its ability to package products, such as combining PI and Office to make a single policy with one premium. Hiscox also offers exclusive online-only products to brokers, such as negligence-only PI wording for smaller risks.

Karen Bathgate, Development Underwriter at Hiscox, says: “Brokers who use INScribe have given positive feedback, commenting that it saves them time and money while providing them with the ability to issue competitive quotes, bind cover and issue documentation direct to their clients.”

In 2009, 7,793 quotes were processed using INScribe, with a quotes-to-policy strike rate of 27%. Almost 350 brokers currently use the system, which should increase as INscribe enters its next five years.