Insurtech Draftrs has announced professional liability insurance for smaller firms. According to a company statement, coverage is completed via a digital process with instant underwriting.
Draftrs added that it is launching the professional liability insurance product specifically targeting architects and engineers, developed in collaboration with Markel Insurtech Underwriters. The plan is to introduce additional professional liability product lines in the future.
Audrey Lau, co-founder and CEO of Draftrs, said there is a significant opportunity in the space as current underwriting and distribution models are manual and inefficient.
“This has resulted in limited product choices, poor customer experiences, and a large uninsured market. Through tech-enabled automation, Draftrs offers a better product and a better experience for small firm professionals and their agents that is focused entirely on what they need.”
The Draftrs platform caters to company’s insurance carrier and broker partners to more efficiently deliver professional liability products to the small commercial market.
For brokers, Draftrs provides a custom-branded user interface.
Curtis Corliss, co-founder and CTO of Draftrs, said:
“… from integrations into an agency’s digital quote marketing system to full custom-branded integration of the Draftrs digital customer and policy management interface, we partner with brokers to provide custom tech and integration solutions that will help them grow and better service their professional clients.”
Draftrs was co-founded in 2021 by Lau and Corliss. Company advisors include Bill Vit, former CEO of Aon Affinity, the MGA and programs division of Aon Brokers, and Jeremy Hitzig, former CEO of Distinguished Programs.
