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Brokerline Direct was formed in 1995 when a four Dublin brokers got together to see what could be done to combat the threat of ‘Direct writers’ who were then just coming to the market. Our representations to both the individual insurers and the Irish Brokers Association failed to generate any practical response and it became obvious to us that if we wanted something done, we would have to do it ourselves.
At the time, many large (national and multi-national) brokerages were believed to have a greater purchasing power than the smaller, local proprietor owned brokerages. We believed that it made sense for us to do something that would give us a competitive edge over the 'Direct' sellers and the large corporate brokers, for the benefit of the public, in terms of competitive pricing and cover, backed up by professional advice and claims assistance.
We drew together a good number of ‘personal lines’ brokers and invited them to join the network. Initially we had 63 members and our first product was a private motor policy with Cornhill. This was followed a year later with a commercial vehicle policy with Irish National Ins Co. Membership grew over the following years, as members opened (or bought) new brokerages and new members were allowed to join in areas where we were not very well represented. By the end of 2010 we will have nearly 85 members with 106 offices nationwide.
Why is BLD of benefit to the consumer?
BLD negotiates on price and quality. Over the years, we have consistently created insurance products that are competitively priced and offer wider cover. These cheaper premiums and enhanced covers are passed on to the clients. BLD has achieved some major changes over the years.
We introduced the first ‘No claim bonus’ on household Insurance.
We introduced a commercial van policy, which gives ‘driving other vans’ cover.
This has never been available from any insurer in Ireland or England, prior to us introducing it with Setanta Insurance 2007.
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