Relay - Relay interview with Irish Broker Magazine

Paul Irish Broker Magazine speaks with David McKnight, Business Development Director, Relay Software

David, we last caught up eighteen months ago, is it fair to say it has been a busy period for Relay?
Paul, it certainly has been a busy time and we are delighted that we have continued to grow the company during a challenging period for many within the Irish insurance industry. This has been achieved by listening to what our customers need and more importantly delivering
what they need in a timely fashion.

The recent acquisition of both HIQS and Comquote has certainly made an impact. How do you feel it has been received by the market?
Throughout 2010 the clear message from our customers was that an integrated household product was their number one priority. The acquisition of Spike Technology meant we could deliver a fully integrated solution within a very short period of time. We have been overwhelmed by the support from both brokers and insurers and are continuing to roll out the integrated software to all users of Relay360. Due to the customer support regarding HIQS, it was a logical decision to acquire Comquote, and it was successfully completed in July 2011. Again, the strategy to integrate the products is clear and something all Relay brokers can look forward to in 2012.

It seems every time you open the Irish Broker, Relay is welcoming a new customer. Why do you feel you are able to continue attracting new customers?
We simply have more to offer than any of our competitors. A 100% focus on the Irish insurance industry coupled with continuous investment in our product suite means Irish brokers can benefit from a platform that is purpose built for the Irish market. During 2012 all Relay brokers will be able to benefit from the integrated Household and Commercial Motor systems at no additional cost. It is further evidence of our commitment to deliver a system which allows brokers to sell and administrate more policies at ever reducing costs.

You have just said that Relay brokers can benefit from an integrated system, what can brokers not using Relay do to get the same benefits and efficiencies in their offices?
Well the simplest approach is to migrate to the core Relay platform and over 20 brokers have taken this step during the last couple of years.

You make it all sound very straightforward, what does it really mean for a broker using one of your competitor's solutions?
I am not saying it is effortless but yes it can be made straightforward. We have an abundance of relevant experience in helping brokers through the process and the old adage of "you get out what you put in" comes into play.
Our experienced team will work with the broker to make sure that data is migrated accurately and that all staff using the Relay system receive the right level of training. The training and support does not stop after the implementation; we continue to deliver training until everyone is confident in using Relay and more importantly getting the best out of investment.

With regards to the investment is there a significant financial cost when moving to Relay?
I don't believe so and I prefer to describe it as an investment rather than a cost. We work with all new customers to design a payment plan which suits their business. More often than not those brokers who are able to remove maintenance costs of their existing systems see little or no uplift in their annual IT overhead whilst also gaining major efficiencies. The brokers who take full advantage of what Relay has to offer will drive significant costs out of their business.

You have spoken a lot about what you can do for brokers but obviously you also work very closely with all of Ireland's leading insurers. Is the management of insurer relationships something you feel is important?
Yes absolutely, the insurer relationships are key to the ongoing growth of Relay, it is very much a tripartite relationship between brokers, insurers and us. We are in a strong position to offer both of the other parties' significant benefits. Due to the strength of our broker solutions the market penetration is very strong. Many of the leading insurers would trade 70% of their broker lead private motor business through Relay brokers. This figure rises as high as 95% for household and commercial motor. Consequently any insurer can launch a new product on the Relay platform and immediately achieve full nationwide coverage. Although this would seem like a compelling reason for an insurer
to work with us, I actually believe the overriding factor is that there is a confidence that we will get the job they need done.

I suppose you are the obvious choice when it comes to distributing Private Motor, Household and Commercial Motor products but do you intend to deliver anything further to the market which will be of benefit to insurers?
At present neither the Household or Commercial Motor products are delivered on a full cycle platform so insurers still have a huge overhead in processing both MTA's and renewals. During 2012 we will be meeting with all insurers to see how we can progress the existing new business solutions to a full cycle platform. Alongside these developments we are also keen to roll out 2 major developments to further insurers.

eDocX - Developed in partnership with Aviva, brokers can now receive all documents electronically which are automatically indexed on the Relay system. This development saves insurers on the significant cost of printing and posting hardcopy documentation which is often scanned at the broker and duly put through the shredder. The brokers also save time as they do not have to go through the time consuming task of scanning and indexing documents.

Direct Debit Plus - For those insurers who offer direct debit facilities there is now the opportunity to upgrade to DD Plus and remove much of the onerous administration in the initial setup. DD plus allows for a paperless transaction which is altogether more secure and accurate.

David, it has been great to catch up. Have you any final words you would like to share with us?
I'd like to thank you for taking the time to meet with me and congratulate you on the fantastic job you do with Irish Broker. Finally, I would like to thank all of our customers and everyone in the Irish Insurance industry for their continued support.

The feature from February 2012 edition of Irish Broker Magazine can be downloaded here