The Exchange has launched several services to develop its Exweb intermediary portal as a client management and electronic trading platform. The developments form part of a rolling programme, which will see further enhancements introduced to the intermediary market during August.

Intermediary firms will be able to gain access to a client database and store all relevant details for each client so they have a view of advice given and future requirements. The database will also reduce the amount of information that has to be re-entered on forms, allowing intermediaries to transfer data to all subsequent quotation and new business submissions after it has been initially captured.

Exweb will also provide a central point of access for intermediaries undertaking electronic business, enabling users to link to product provider extranet services for online new business submissions and gain access to product provider’s electronic application forms.

David Child, managing director of The Exchange, said the new services would greatly reduce the administration burden on intermediaries and make it easier for them to carry out their business electronically. “It will drive up the volumes of electronic transactions processed across Exweb,” he added.