Technology provider EvoSure announced this week a new online tool to help match independent insurance agents and brokers looking to source tough risk with underwriters that already have an established appetite in the area.
The tool, Market Finder, is said to act as a “matchmaker” for brokers and underwriters that will expedite the process of underwriting and marketing risk in the commercial insurance space.
Agents and brokers using Market Finder input characteristics about the risk they are looking to place, and then receive a list of markets whose appetite for that business has been pre-qualified and verified by EvoSure. EvoSure then provides contact information for specific underwriters. The process is usually complete within 48 hours.
“Businesses rely on insurance brokers for their relationships and ability to find the best insurance coverage at the right price; but brokers often find navigating their relationships and other underwriters in the marketplace inconsistent and time consuming,” said EvoSure CEO Matt Foran. “Our broker members win new and renewal business because they are more effectively leveraging their networks of underwriters.
“Submissions are going directly to the most qualified underwriter desks, and those underwriters are spending less time fielding out-of-appetite submissions. We’re closing the gap on both sides of the transaction.”
Market Finder is available to brokers effective immediately. It has already been used by brokers to search risk classes including nursing are facilities, security firms, grocery stores, freight trucks, coastal hotels and private colleges.
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