Amwins launches new multiline quoting platform
Amwins launches new multiline quoting platform | Insurance Business America
Technology
Amwins launches new multiline quoting platform
It will support a range of coverages at launch, with more to come soon
Technology
By
Kenneth Araullo
Wholesale specialty broker Amwins has introduced a new multiline quoting platform.
Amwins InstantQuote (Amwins IQ) is a new digital marketplace designed to streamline the process of obtaining bindable quotes from various carriers quickly.
The platform offers immediate quoting capabilities, allowing retail agents to compare offerings from multiple markets after submitting a single application.
Amwins said that the new platform positions users to choose from top-tier markets with pre-negotiated amendatory endorsements included, making it particularly suitable for middle market and personal lines accounts.
Additionally, Amwins IQ offers carriers opportunities to tap into markets and utilize data for more predictive insights, underwriting precision, and portfolio management. For cases not suitable for automated processing, a referral system is in place for manual underwriting evaluation. Amwins brokers are also readily available to aid with more complex insurance needs.
Amwins IQ – what coverages are supported?
The marketplace currently supports a range of coverages including homeowners, dwelling, condo, and wind, with plans to introduce flood coverage shortly.
Professional lines coverages available for multiline quoting on Amwins IQ include cyber liability, miscellaneous E&O, D&O (for both private and non-profit organizations), EPL, and tech E&O with cyber. The platform is set to expand its offerings to include crime, fiduciary, and registered investment advisors in the near future.
Ben Sloop, chief operating officer at Amwins, highlighted the platform’s significance in the advancement of digital offerings within the specialty insurance sector.
“Amwins IQ represents the next evolution of digital capabilities in the specialty space, empowering retail clients by giving them choice and speed of execution,” he said.
He further emphasized the platform’s distinctiveness, powered by underwriting expertise and cutting-edge technology, supported by the company’s commitment to data and analytics.
Tom Parsons, head of digital strategy, elaborated on the platform’s benefits for both retail partners and carriers, noting the marketplace’s design and flexibility.
“Our online marketplace connects our retailer and carrier partners in an intuitive and flexible way, providing transparency and choice to our retailers, and efficiency and underwriting rigor to our carriers,” Parsons said.
Parson also noted an ongoing investment in retail-focused technology linked directly to Amwins’ underwriting and brokerage experts.
In other recent developments, Amwins Program Underwriters (APU) has also launched a new home healthcare HNOA (hired and non-owned auto) program aimed at providing hired and non-owned auto liability coverage specifically for the home healthcare sector.
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