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EvoSure Accelerates Insurance Transactions with new Submission Capabilities

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EvoSure Accelerates Insurance Transactions with new Submission Capabilities

August 12, 2015
By Frank Griffin
TMCnet Contributing Writer

Insurance brokers and underwriters are continuously trying to find the right balance between risk and value that both parties can live with. This is easier said than done, as the many different points of the transaction get hammered out to give the customer the best policy to insure their asset. In order to simplify this process, EvoSure was established with a singular concept of improving the interaction of commercial insurance and the complexities that slow down the process. The company just announced new submission capabilities designed to further improve how agent and brokers deal with underwriters with a solution to accelerate transactions.

The way the EvoSure platform introduced new levels of efficiency to insurance services is by matching agents and brokers with underwriters for commercial risks. The matching technology searches the requirements of underwriters at hundreds of carriers who are willing to write the risk and updates it in real-time. Based on these updates, agents and brokers can see who is looking for submissions.

With this new functionality, members will see improvements with their transaction experience by enabling agents to communicate more effectively. They can now send files, attachments and communicate directly with their underwriters to iron out the smallest details, which can make or break a deal.

As detailed by EvoSure, the new improvement will add the following functionalities:

  1. Advanced matching on risks: Agents and brokers enter basic details about a risk (a process that typically takes less than three minutes) into Market Finder and they receive a list of underwriters who want it, ranked by level of interest and appetite.
  2. Faster, personalized communication: Members on both sides of a transaction can communicate with one another more quickly and easily than ever before within EvoSure. Agents and brokers can attach documentation, such as loss runs, to personalized messages to markets. Underwriters can respond with level of interest, parameters around appetite, and applications specific to the risk.
  3. Navigate appointments and strengthen relationships: Members can grow existing relationships by identifying the people and companies with whom they are appointed and connected. Appointed and connected relationships are featured in search results, allowing business partners with relationships to align quickly around the right opportunities.
  4. Access to a rapidly growing network of users: From standard market carriers to niche program administrators, from small independent agencies to national brokerages, new users are joining EvoSure daily.

“These enhancements are a direct result from the feedback we’ve received of our existing members, who asked us to not only find them markets but improve the begining of risk placement experience,” said Matt Foran, CEO of EvoSure. “EvoSure is the vehicle that gets a risk from point A to point B, but at the end of the day, our clients are the ones in the driver’s seat. We’ve just made it a much smoother ride.”

These new improvements are now live for EvoSure’s members.

Edited by Peter Bernstein

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