U.S.-based insurtech startup CoverWallet announced on Tuesday the launch of CoverWallet for Agents, which is described as a dedicated platform for insurance agents. According to CoverWallet, those using the new platform will benefit from a “fast, simple, and efficient” way to provide commercial insurance to businesses, with a single point of entry to access top carriers for multiple types of policies.
CoverWallet reported that CoverWallet for Agents provides agents with instant quotes, online bindable policies, and real-time proof of coverage. Through a dynamic online application that uses data and analytics, agents instantly receive quotes from top carriers for lines of business including General Liability, Business Owners Policy, Workers Compensation, and Professional Liability. The platform is currently integrated with top national carriers including Chubb, Starr, CNA, and AmTrust.
While sharing details about the company, Inaki Berenguer, CEO and Co-Founder of CoverWallet, stated:
“Since launching our sleek and intuitive technology platform for small businesses, we have had countless requests from agents to work with CoverWallet. Today there are 40,000 insurance agencies in the U.S., and we are making it easy for agents to harness the power of data, design, and technology to serve more clients better and faster than ever before.”
Aman Khaira, Vice President of Product at CoverWallet, also commented:
“We were able to launch CoverWallet for Agents re-using the advanced technology that we built from the ground up for our small business platform. Agents are an integral part of small business insurance, and we are making it easy for them to leverage technology without needing to build their own complex integrations or to have direct relationships or appointments with carriers.”
In addition to helping small businesses obtain coverage, agents also benefit from:
- Financing integrated at checkout with a click of a button for customers who prefer to pay annual insurance over time, with multiple forms of accepted payments including credit cards, debit cards, or bank accounts
- A dynamic and searchable online appetite guide that indicates how likely an account is to get an instant quote based on its location and class of business
- Automated risk analysis, benchmarking, and data analytics to see what coverage will cost and the policies businesses in a specific industry typically purchase
- A simple document management system and instant online generation of certificates of insurance
- Automation for adding additional insureds to policies
- Predictive analytics for coverage recommendations, as well as peer risk comparisons and claims support