Relay welcomes Coalition to the fast-growing list of carriers quoting on the innovative platform
New York, NY (Sept. 15, 2021) – Relay Platform is pleased to welcome Coalition to their lengthy suite of carriers, MGA-MGUs and reinsurers offering instant quotes (API) through the platform. The integration with Relay Platform offers brokers instant quotes, augmented communication and seamless access to Coalition, the largest tech-enabled Cyber Managing General Agent (MGA).
Relay, an innovative provider of solutions enabling the digital transformation of commercial insurance and reinsurance submissions, is designed to facilitate the transition to data-first insurance placements, instant quoting, and superior broker-cedent connectivity to markets. The Relay I5 platform allows insurance brokers to visually structure placements, rapidly identify and approach the most relevant markets, and iteratively automate subsequent steps to automate client proposals and increase close and renewal rates.
“The digital risk landscape is evolving rapidly, and brokers are looking for solutions that allow them to provide immediate coverage options for their clients,” said Shawn Ram, Coalition’s Head of Insurance. “Through our partnership with Relay, we’re excited to offer an even broader number of brokers a seamless, instant quoting solution to offer cyber coverage to their clients.”
Connecting broker and carrier systems directly through APIs is transformational in delivering instant quotes to brokers. Relay unifies carriers & MGA-MGU applications and sources capacity through both real-time and manual quotes to produce a comprehensive Smart Client Proposal™ that saves hours a day and boosts success rates for agents & brokers in any Commercial Line. Through Relay, Coalition will offer comprehensive cyber coverage including financial, intangible, and tangible damage with up to $15M.
“Our I5 technology was developed to quickly combine forms across carriers and MGA-MGUs in order to speed up data entry for brokers. Our application dynamically adapts to API inputs and unlocks carriers as answers are provided. Those applications can be extended directly to policyholders/applicants, directly or for Affinity Programs”, comments Andrew deGroot, Relay VP of Enterprise Accounts and International Sales.
With Relay, brokers drastically increase their close rates by securing and comparing quotes and creating winning proposals faster, for both renewal and new business. Relay is the single-entry multi-carrier comparative-rating solution that can handle all P&C lines, across all mediums including both instant (“API”) and email quoting, at any level of complexity. Relay facilitated billions in bound coverage across insurance and reinsurance since launching in April 2020. With an exponentially growing client base in North America, Relay also counts among the few Lloyd’s accredited London market e-platforms. For more information, please visit www.relayplatform.com.
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance, Lloyd’s of London, and Argo Group, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across 9 provinces and 3 territories in Canada. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition’s team is global with employees based across the United States, Canada, the United Kingdom, Switzerland, and Portugal. For more information, visit www.coalitioninc.com.
Source: Relay PlatformTags: API, Coalition Inc., Cyber Insurance, MGA, platform, Relay