Introduction to Insurity Submission Gateway
Insurity Submission Gateway is a cutting-edge solution that modernizes underwriting risk management and distribution by providing seamless risk placement for insurers and MGAs. Designed for wholesale distribution and the London Market, this cloud-native platform empowers trading networks with purpose-built software that simplifies e-trading and delivers a fast, digital experience.
Key Features and Benefits
Insurity Submission Gateway offers real-time trading capabilities, allowing users to place risks, adapt underwriting guidelines, and monitor performance across various programs in real time. The platform also provides robust analytics with intuitive, embedded tools for faster and more informed decision-making. With a cloud-native deployment model, users can stay agile and manage all their programs from anywhere.
Boosting Underwriting Efficiency
The platform enables users to quote from retailer to coverholder using the latest rating, underwriting guidelines, and moratorium updates, resulting in policies being written up to 80% faster. Automated predictive models, scoring, and straight-through processing streamline the underwriting process, improving efficiency and reducing manual errors.
Streamlining E-Trading
Insurity Submission Gateway simplifies MGA-syndicate partnerships with APIs that streamline calls and interactions. Data validation and reports throughout the multi-party distribution chain reduce the time spent producing risk level bordereau reports by 60%, enhancing operational efficiency and collaboration.
Automating Capacity Management
The platform automates capacity management to ensure aggregations are not breached across retailers and underwriters. By tracking global CAT events and applying rules to enable or disable moratoriums against live events, users can efficiently manage and mitigate risks, ensuring compliance and operational resilience.
Enhancing Risk Selection
Insurity Submission Gateway enables users to gain a holistic view of risk by exploring correlations among exposure, loss, hazard, claims, and market data. Leveraging geospatial analytics, users can determine if risks exceed underwriting guidelines and allocated capacity, enabling proactive risk management and informed decision-making.
Testimonial and Recognition
A testimonial from a VP of Underwriting highlights the exemplary rating received from Lloyd’s of London, emphasizing the platform's positive impact on eliminating human error, improving workflows, and enhancing competitiveness. This recognition underscores the value and effectiveness of Insurity Submission Gateway in accelerating the underwriting process for insurers and MGAs.
Conclusion
In conclusion, Insurity Submission Gateway stands out as a transformative solution that revolutionizes underwriting efficiency, e-trading, and risk management for insurers and MGAs. With its advanced features, cloud-native architecture, and market expertise, the platform equips users with the tools they need to thrive in a competitive and dynamic landscape, driving growth, operational excellence, and customer satisfaction.