As one of the leading global distributors of specialty insurance products and services, Charlotte, North Carolina based AmWINS is expanding their usage of ClarionDoor technology to enhance their underwriting capabilities.
“We have been leveraging ClarionDoor products and services for the last several years within our small business platform, AmWINS Access, and couldn’t be more pleased with our results,” said Ben Sloop, chief operating officer at AmWINS. “We see them as a critical partner as we expand these capabilities into specialty programs and build out a world-class underwriting infrastructure for our carriers and capital partners.”
Nearly all successful cyber-attacks originate from the more than three billion fake emails sent each day attempting to coax recipients into clicking on a link which exposes private information, hacked credentials, or worse. That is why RT ProExec, a division of RT Specialty and a leading wholesale distributor of specialty insurance products and services, is delivering a new insurance product which expands the scope of cyber coverage the company is currently able to place for commercial businesses by leveraging ClarionDoor’s technology.
Today, individuals, small businesses, large corporations, and even cities are at risk, as evidenced by the recent ransomware attack in Texas, and yet, cyber is still an emerging and evolving market where insurers are actively trying to figure out how to provide coverage for diverse and rapidly developing risks.
“Navigating the sea of changing cyber risk is an important role for dedicated wholesale products,” said David Lazzaroni, senior vice president, professional and executive liability at RT ProExec. “The islands of protection and expert brand response are critical to protect a company’s balance sheet in the event of a cyber hurricane.”
Rising instances and costs driven by medical malpractice litigation since the 1980s has put a tremendous burden on healthcare professionals, patients, and insurance organizations alike. However, amidst the chaos of the medical malpractice crisis, managing general agents (MGAs) like CM&F Group (CM&F) have continued to find ways to stay competitive on price and provide quality products and excellent service to healthcare professionals.
In an industry where practitioners are increasingly leaning into self-employment and independent contractor status, CM&F is a trailblazer in offering digital insurance solutions for healthcare professionals. Always pressed for time, healthcare professionals can’t spend hours, days, or weeks purchasing coverage or waiting for a policy to take effect. CM&F understands the need for automation, innovation, and efficiency in the offering and servicing of medical malpractice insurance products and turned to ClarionDoor’s Digital Distribution Suite to help launch the program successfully.
“We have always believed the service we provide should never be compromised by technology, but that technology provides the tools to provide quality products and exceptional service.” said Cal Sullivan, president at CM&F. “By digitizing our products, we are able to provide healthcare professionals an easier, more efficient way of purchasing the coverage they need. ClarionDoor’s high level of stability, transparency, and technology expertise are helping enable us to achieve our goals in a market with extremely tight margins.”
It’s impossible to escape the hype large insurance companies, data providers, and software vendors create using industry buzzwords, like blockchain, big data, telematics, or artificial intelligence (AI). However, emerging InsurTech challengers, like Branch Financial, Inc. (Branch), are moving beyond the hype by using modern technology from ClarionDoor to create and bundle insurance products with the industry’s most accurate insurance premiums ever.
“In order to accomplish our goals of a fast and bundled buying experience, we knew that our technology was going to have to take main stage,” said Joe Emison, CTO at Branch. “We were extremely picky when reviewing software vendors and, at first, it looked like I’d need to build everything in house. ClarionDoor was exactly the kind of software we’d hoped to find, and we couldn’t be more pleased with the results. Their tech stands on its own merits, but most importantly, their support team has been outstanding. They’re always available, know what they’re doing, and work quickly.”
Headquartered in Columbus, Ohio, Branch is an InsurTech company providing personal auto, homeowners’ or renters’, and umbrella insurance products The company’s direct-to-consumer customer experience outshines the industry standard easily with a less than one-minute buying process and little else needed beyond name and address.
Pioneering property and casualty (P&C) insurers, like Oregon Mutual Insurance Co. (OMI), are more able to recognize specific strategic needs and quickly adapt with product changes by adopting the latest technology, such as ClarionDoor’s Digital Distribution Suite.
In an industry where implementation timelines are often measured in geological time scales and require nothing short of a military platoon and the GDP of a small nation to complete, insurers avoid rip and replace scenarios at every turn. However, extensive product change timelines, declines in the availability of specialized IT talent, an inability to integrate and engage with unstructured and new data sources, and a lack of digital engagement options means insurers must continue to look for technology modernization options.
OMI understood these challenges and, like many early tech adopters, decided to invest in a tech partner, and not just a tech product. In less than five months and without any staff augmentation, OMI implemented ClarionDoor’s Digital Distribution Suite to stand up the company’s personal auto products via a web service and connect the appropriate distribution channels.
“We are pleased to share that earlier this summer over 10,000,000 quotes have been processed, captured with full detail, and analyzed,” said Matt Kulangara, chief information officer for OMI. “Working with ClarionDoor’s expert team and products, we continue to make product changes, test, and play ‘what-if,’ in record time and with few resources. More importantly, ClarionDoor’s products play nice with other software and allow us to continue to invest in other technologies without worrying about integration. ClarionDoor has been a great partner for us, ensuring that OMI keeps current and has the right tools to power forward and innovate with ease. We look forward to the next 10,000,000 quotes.”
