ProWriters Insurance Services has announced that it has added CFC Underwriting (CFC) and insuretech startup At-Bay to their Cyber IQ platform.
ProWriters CEO Brian Thornton noted, “We are very happy to be adding a company like CFC to our Cyber IQ platform. Based on their industry knowledge, leading coverage, and claims capabilities we know our agents and their clients are getting another leading carrier for their cyber insurance needs.” Cyber Product Leader at CFC James Burns added, “We are excited to be joining the Cyber IQ platform and look forward to working with ProWriters in helping make cyber products more accessible to the market.”
In November of 2018 ProWriters introduced their Cyber IQ platform, a comparative rating portal which allows brokers and agents to compare quotes from multiple stand-alone cyber insurance carriers in seconds. The platform was launched with Axis, Chubb, Hiscox, and NAS Insurance Services, LLC (NAS) which is now part of Tokyo Marine HCC.
Thornton also commented, “We are also excited about adding At-Bay to our platform. Writing on Hartford Steam Boiler paper, part of Munich Re, At-Bay brings an innovative underwriting approach to the table by scanning a company’s website as part of the underwriting process. They then provide feedback on the company’s security posture and monitoring throughout the policy period.” Head of Insurance at At-Bay Brett Sadoff stated, “We are pleased to be joining ProWriters Cyber IQ platform as well as bringing our innovative underwriting approach to their brokers.”
ProWriters has also added several new, industry-leading features to the Cyber IQ portal including:
A dynamic quote comparison document provided with each submission makes selling cyber insurance more transparent and coverage differences easier to see
White labeled versions of the Cyber IQ portal which gives retail brokers the ability to provide their clients with multiple cyber quotes directly from their website
Bulk quoting functionality that allows brokers to upload renewal lists for ProWriters to quote all their renewals helping to grow their revenues and protect their own E&O
Finally Thornton added, “We know that a single carrier solution is not the answer. We can rate for multiple carriers, so we can see that rates and coverage vary tremendously from risk to risk, which is why we give our brokers multiple options, allowing them to easily find the best option for their client.”
Source: Company Press Release