Relay Launches Next-Generation Digital Quoting Solution

Go live with a cyber insurance quoting platform in under 72 hours with Relay Cyber Fit

New York, NY (May 3, 2022) – Relay Platform, an innovative provider of solutions which enable the digital transformation of commercial insurance placements, is pleased to announce the launch of the company’s next generation agent and broker API solution, Relay Cyber Fit for Retail Agents and Brokers.

Many agents and brokers are required to provide a cyber quote with every other commercial insurance policy or face errors and omissions (E&O) exposure and underinsured customers. This additional requirement, along with the rapidly evolving cyber market, has made it impossible for agents and brokers to stay up-to-date until now. Relay Cyber Fit equips agents and brokers with multiple markets, including direct appointments from Corvus Insurance to access its Wingman Cyber™ product (subject to territory restrictions), access to multiple markets via INSUREtrust, and additional points of entry via other preferred Relay wholesale partners.

Relay Cyber Fit grants agents and brokers access to the sleek Relay Cyber placement interface, data exports, NAICS code recommendations, dynamic quote comparison, and management dashboard. Efficiencies continue to be delivered through Relay’s well-established automated PDF proposals, API (automated) quotes, and ability to drive quotes from the agent or broker’s landing page with Relay Cyber Affinity. Additionally, Relay Cyber Fit users have access to the Relay Risk Academy Education Portal — equipping agents and brokers with the tools and resources to efficiently increase business and protect customers.

“Agents and brokers spend a lot of time chasing quotes,” said Greg Boutin, Relay CEO and Reactions Magazine’s Innovator of the Year. “With a tightening environment and rising insurance rates this year, clients are often asking for more price comparisons than usual. A minute spent by a broker re-keying information to secure new quotes is a minute they cannot use to prospect or build relationships with clients. Relay Cyber Fit is built to solve that problem so agents and brokers can start quoting almost instantly with digitized carriers — you simply ask, ‘Do you want cyber with that?’”

Whitepaper: How to Secure Cyber Insurance Capacity

An all-in-one Cyber security checklist and guide

Relay is excited to share our latest white paper, How to Secure Cyber Insurance Capacity: A Checklist for Agents & Brokers.

Cyber insurance has been a hot topic in the insurance industry for years now. Still, agents and brokers struggle to promptly find comprehensive and effective solutions for their clients. Mainly because the increase in cybercrime is outpacing the evolution of insurance coverage.

Agents and brokers need to adapt to this new reality by using industry-leading tools. They need to provide lower-cost quotes in a hard market that’s seeing rising premiums, enabling them to secure business and scale more efficiently rather than losing business to faster and more savvy competitors.

This guide elaborates on the challenges agents and brokers face in today’s cyber insurance environment and what specific steps they can take to overcome them and thrive.

Download it here.

About Relay

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. 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.

Source: Relay Platform

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