We have a Profit Share in place for SME business with one of your panel. Can we process this business electronically via PowerPlace and still retain our profit share arrangement?
The profit share arrangement will remain on business outside of PowerPlace and by sharing your PowerPlace business volumes with the insurer, using PowerPlace will not jeopardise your current arrangements. We will however need to agree a financial remuneration package with you for business placed on PowerPlace, which will be based on a commission basis rather than profit share. This package will also deliver more certainty to your business in terms of income.
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