Network Data is a network for mortgage and general insurance intermediaries. It supplies a comprehensive range of services to 750 appointed representatives including mortgageLink sourcing software, mortgage packaging, secured loans and internet services and compliance services.
Initially the arrangements see Network Data taking 750 Exweb Broker licenses, which is expected to rise to 1,000 licenses in 2005 as Network Data expands its business. The Exchange and Network Data will also work together to market Exweb Broker to subscribing users of Network Data’s MortgageLink sourcing system.
Exweb Broker is a tailored version of Exweb, The Exchange’s market leading portal service, designed specifically for brokers and intermediaries selling mortgages, protection and general insurance products.
Exweb Broker will help Network Data’s members to run their businesses efficiently and cost effectively by streamlining key business processes. Integrated services will enable them to research the market, produce single company and comparative quotes and submit new business applications electronically.
The portal will also provide links to product provider extranets, an integrated client database from which to pre-populate quotes/application forms, user support and help desk facilities.
Exweb Broker provides research, quotation and transaction services for term assurance, critical illness, income protection and general insurance policies. In addition, advisers will have access to mortgage services such as conveyancing, equity release and credit checking.
David Child, managing director at The Exchange, comments: “We are delighted that Network Data, as one of the largest mortgage intermediary networks in the market, has selected our e-commerce services. These arrangements demonstrate the value our quotation and transaction services can deliver to mortgage networks in a regulated environment and we look forward to supporting Network Data’s future growth plans.”
Alex Cotton, head of sales & marketing, adds: “The Exchange’s services are clearly the most comprehensive in the market which is why we have selected them for our members. We are confident they can add significant value to our members’ businesses and help them run and grow their operations as efficiently as possible.”
