Santa Barbara, California — March 23, 2021 — ClarionDoor, provider of the most intelligent insurance product distribution software, is pleased to announce that the company has been selected by a major Pennsylvania-based insurer to optimize their cannabis program.
With the cannabis market expected to reach $130 billion by 2024, new opportunities are emerging for providing insurance coverage to cannabis cultivators, wholesalers, processors, and distributors, but in spite of the boom, there are significant risks. The cannabis industry represents not only an emerging risk, but an emerging opportunity for insurers in growth mode. However, this specialty property and casualty (P&C) insurer needed a flexible, cost effective solution in order to launch products to market fast and integrate seamlessly with the company’s core systems.
ClarionDoor’s great reputation in specialty markets for delivering modern technology, rapid development approach, and cost effectiveness was cited as a significant factor in the selection. ClarionDoor’s API-first, cloud-native software for rating and quoting enables insurers in specialty markets to leverage cutting-edge technology to streamline underwriting processes. Many insurers offering coverage for emerging markets are still rating risks manually, and need solutions that fit seamlessly into newly-implemented digital strategies.
“With cannabis legislation pending or at least proposed across the country, this opportunity is one that only continues to grow,” said Pat McCall, chief sales officer at ClarionDoor. “Truly, it is one of those specialty lines that is on the verge of booming, and technology should not stand in the way, but rather it should enable insurers to take advantage of growth potential. This selection further speaks to the flexibility of our software in being able to launch new programs and react to market changes, and we look forward to providing a solid ROI to this important client very quickly.”
With implementation times that far exceed the industry norms, ClarionDoor’s track record is backed by zero failed projects and 100 percent referenceable clients, for any line of business and in any geography. To stay up to date with ClarionDoor, follow us on Twitter and LinkedIn.
For more information, please contact Spiro Skias, Director of Product Marketing for ClarionDoor, at [email protected].