Relay adds Tech E&O to its Cyber and Management Liability quoting platform
New York, NY (Mar. 29, 2023) – Relay Platform, an innovative provider of multi-carrier solutions which enables the digital transformation of commercial insurance placements, is pleased to announce the launch of the company’s latest next-generation API solution: Technology Errors and Omissions (Tech E&O) for retail agents and wholesale brokers. Relay’s latest product will provide instant API quotes from leading commercial carriers directly on the Relay Platform.
Relay Tech E&O allows retail agents and wholesale brokers access to coverage of incidental costs when companies are blamed for causing damages due to errors, omissions or negligent acts related to the products or services provided by a business. Claims and suits for these types of damages typically are not covered under a Commercial General Liability policy.
Combined with Relay’s instant Cyber insurance quotes, retail agents and wholesale brokers can offer a comprehensive Cyber insurance policy with enhanced Tech E&O coverage all in one unified, automatically generated client proposal to better serve their clients and generate additional add-on revenue. Additionally, brokers and agents will have the option to select only Cyber coverage from carriers that do not offer Tech E&O within the same submission flow.
Relay Tech E&O grants agents and brokers access to the sleek Relay 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, and API (automated) quotes. Additionally, Relay Tech E&O 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.
“Before Relay, shopping Tech E&O quotes was a headache for everyone involved. It’s an exciting time to see our technology create a seamless process from quote to bind for Tech E&O, Cyber, and Management Liability from multiple carriers in just a few seconds,” said Doug Schulkin, VP Sales, Enterprise & Wholesale at Relay Platform.
Relay is built for both modern and traditional brokers and agents. It equips them with a friendly interface to easily add specialty lines to their client proposals. Relay lets agencies and brokerage quickly add Cyber Insurance to any quote, and also supports Management Liability and Small Commercial/BOP. Forward-looking agencies and brokerages in North America use Relay to place more business, faster and better. For more information, visit www.relayplatform.com.
SOURCE: Relay PlatformTags: API, errors & omissions, InsurTech, InsurTech Spotlight, Quote and Bind, Relay