Centralized distribution platform seamlessly connects cyber insurers with distribution partners
Leading insurtech provider, Zywave, today announced the launch of Cyber Quoting, the latest addition to its comprehensive portfolio of quoting and proposal solutions. The centralized quoting platform brings together global cyber insurers and U.S. distributors, connecting them through a simplified, transparent data collection process that provides key insights into coverage submission and selection.
“As cyber losses continue to rise, cyber insurance has become a critical component of risk mitigation plans for the majority of businesses—large and small,” said Eric Rentsch, Zywave’s Chief Product Officer. “While cyber insurance is in high demand, securing the appropriate coverages still can be a challenge.”
“Tedious, time-consuming data collection is one of the biggest pain points for cyber insurance brokers and their clients,” Rentsch added. “To make the process easier for all parties, Zywave’s Cyber Quoting solution collects input through a straightforward, standardized questionnaire, resulting in less guesswork and greater efficiency across the insurance distribution chain.”
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Both cyber insurers and distributors will benefit from the new quoting platform with expanded market access and a broader selection of coverage available. Connecting through Cyber Quoting can help accelerate distribution, enabling insurers and distributors to develop new cyber insurance products, adapt to market changes, and stay ahead of emerging risks.
A seamless experience through Cyber Quoting allows insurers to accurately present quotes faster and distributors to provide more personalized services and options to their clients, ultimately increasing overall satisfaction. Zywave already has a strong core of cyber insurers and policies available on the quoting platform, including prominent carriers Axis, At-Bay, Coalition, and Cowbell, and are preparing for the imminent addition of industry leaders Tokio Marine, Killara Cyber, and CFC.
“Expanding our distribution network through Cyber Quoting with Zywave allows our programs to be available to an expansive network of distributors,” said Rick Welsh, CEO of Killara Cyber. “These partners can now experience the simplicity of finding, binding and issuing leading cyber insurance coverage for their clients in a streamlined and easy-to-use platform.”
With the addition of Cyber Quoting, Zywave continues to expand its industry-leading offering of quoting solutions. As the largest digital enabler of quoting solutions on the market, Zywave’s connected platform is improving communication and maximizing efficiency for customers on both sides of the market, for all lines of business.
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