Insurance basics
Becoming a Kompare broker in 2020
An archived 2020 article for insurance brokers about joining the Kompare broker panel and receiving enquiries for specialist insurance products.
This article was first published in 2020 and is kept for reference. Rules may have changed since.
At the start of a new decade, we set out why insurance brokers might want to work with Kompare. Kompare brings customers looking for specialist insurance together with brokers who can help them, so the customer only has to fill in one form.
What makes Kompare different?
Kompare was set up to focus on specialist and non-standard insurance, such as motor trade and taxi cover. These products have many more variables than everyday insurance, and customers often have to repeat their details to several brokers before they get a quote.
Kompare's systems are built with technology from Kwoter, a software company working in the non-standard insurance sector. Kwoter's software lets brokers enter an applicant's details once and work with the insurer schemes available to them. It also includes tools for the sales floor, such as diary management for following up quotes, targets that staff can see and track, and management features for running the team.
What's involved?
For brokers who wanted to offer customers an online way to start their enquiry, the article explained that comparison and quote tools could be added to a broker's own website, and that wallboards were available so everyone on the sales floor could see what was happening through the day.
Kompare also offered brokers the chance to receive enquiries generated for a range of specialist products. Brokers could choose an arrangement to suit their size and budget, with the costs set out clearly from the start.
What enquiries can brokers receive?
Kompare specialises in enquiries for specialist insurance markets. The products listed below are the ones Kompare works with today:
- Motor trade: including mechanics, vehicle sales, breakdown recovery and valeting. See motor trade insurance.
- Taxi: including black cabs, private hire, minicabs and taxi fleets. See taxi insurance.
- Vehicle: including van insurance, courier insurance, fleet insurance and young driver insurance.
- Business: including tradesman insurance and commercial combined insurance.
- Personal: including home insurance, holiday home insurance and life insurance.
How it works for customers
A customer fills in a short form on Kompare. A specialist, FCA-authorised broker from our panel then contacts them to talk through quotes, and the policy is arranged with that broker. You can read more on our how we work page.
Get in touch
If you are a broker and would like to find out more about working with Kompare, please contact us. You can also call 0845 868 6507 or email compliance@kompare.co.uk.
Kompare Limited (company number 10839922) is an appointed representative of Rainbow Connected Limited, which is authorised and regulated by the Financial Conduct Authority.