Partnership creates additional differentiation for NFP’s property and casualty business
NFP Ventures, the early-stage investment arm of NFP, announced a strategic investment in TrustLayer, a next-generation collaborative risk management platform and one of the insurance industry’s first real-time proof of insurance verification solution. Through a national partnership, NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, will offer TrustLayer services to their clients.
The TrustLayer platform automates the verification of insurance, licenses and compliance documents of business partners. Employers have access to an easy-to-use solution that saves time, improves workflow and decreases risk by verifying insurance coverage in real time. The solution is customizable, so employers can create specific compliance goals for data that requires verification.
Read More: Over 3,500 New Cryptocurrencies Emerged in the Last 12 Months Amid Bullish 2020
“TrustLayer is helping companies overcome a significant challenge with an efficient and nimble solution for verifying insurance coverages in real time,” said Adam Blumencranz, vice president of NFP Ventures. “We’re thrilled to invest in a tool that will transform the way insurance information is tracked and shared, and continue to provide exceptional services and technology tools to our clients.”
NFP’s Innovation Lab, which assesses innovative companies in the context of client needs and begins partnership discussions, played a central role in vetting the TrustLayer solution. With the help of the Innovation Lab team, NFP established a national partnership with TrustLayer shortly after the NFP Ventures investment, giving NFP clients access to the risk management platform.
Read More: OnJuno Partners with Fintel Connect to Launch New Affiliate Program
“NFP remains focused on offering innovative solutions to meet the evolving needs of clients,” said Mark Rieder, head of Innovation at NFP. “The TrustLayer platform utilizes AI and machine learning to offer a secure solution for certificate management that reduces errors for tasks that have traditionally relied on manual, time consuming data entry. We see the value of providing TrustLayer and are excited to see how it makes a meaningful difference for clients.”
“We’re excited to work with NFP and aid in supporting their efforts to help clients overcome big challenges,” said John Fohr, cofounder and CEO of TrustLayer. “With NFP Ventures involved, we’re collaborating to see where TrustLayer is working well, building from our strengths and making refinements that align with client needs. Their expertise, commitment to innovation and client access gives us targeted insights that enhance our work and the value we deliver to employers. As a result, NFP clients are using our offering, and providing positive feedback and sharing success stories, so we’re looking forward to continuing the momentum.”
Read More: Personas Launches Paysonas Merchant and Crypto Payment Services
