(Image credit: James De Mers.)
Ask Kodiak, an API platform providing real-time appetite and eligibility for commercial lines insurance companies, agents, and brokers, and Tarmika, a rating platform that integrates with major commercial lines insurers to return multiple quotes through a single entry interface, have announced a new partnership.
The partnership aims to provide greater speed-to-market as competition in the commercial lines market increases. The companies say their collaboration brings Ask Kodiak features to the Tarmika Bridge rating platform for faster delivery of needed coverages at the best prices and a better overall customer experience. The integration of Ask Kodiak with the Tarmika Bridge rating platform will help agents understand pricing and insurance product options for potential policyholders and eliminate several manual or offline steps in the process of matching the customer with the right insurance product, the companies say.
Optimization Rather than Disruption
“Tarmika and Ask Kodiak are aligned on a mission to optimize efficiencies in distribution by providing features that help independent agents work more effectively with carrier partners,” comments
“The Ask Kodiak-Tarmika partnership is about empowering the independent agent through technology. Neither Ask Kodiak or Tarmika are in the disruption business. We are simply trying to bring efficiency and optimization to the independent agent channel.”
Ask Kodiak describes its cloud-based software platform as allowing insurers to market commercial and specialty products to independent agents and brokers with a new level of effectiveness. Ask Kodiak’s open API can be used in any agency management system or integrated with other InsurTech solutions to put real-time product recommendations, target classes, underwriting eligibility, and marketing information in the hands of agents and brokers faster than ever before, the company says.
“Tarmika’s mission from our inception has been to support and innovate the independent agency channel,” comments Raghav Tanna, CEO and co-founder of Tarmika. “Partnering with Ask Kodiak allows us to continue this mission while providing increased support to our agents.”
Addressing the Inefficiencies of Manual Data Entry
The Tarmika Bridge rating platform is designed to help carriers overcome the problems presented by manual data entry in the quoting process. By providing single entry access to multiple carriers through streamlined underwriting questions, extensive NAICS mapping, and various API integrations, the Tarmika Bridge is able to present multiple quotes in seconds, not days or weeks, the company asserts.
The two companies report that they are already working together in multiple carrier client environments successfully.