(Image source: Draftrs homepage.)
Draftrs, a Dallas-based InsurTech focused on modernizing small business professional liability insurance, has announced the launch of a new digital insurance platform to enable instant underwriting and policy management for small firm professionals and agents. In conjunction with the platform launch, Draftrs reports that it is launching with a new professional liability insurance product for architects and engineers that was developed in collaboration with Markel Insurtech Underwriters and plans to introduce additional professional liability product lines in the future.
“There is significant opportunity in the small commercial space, but existing underwriting and distribution models are too manual, high touch, and inefficient,” comments Audrey Lau, co-founder and CEO, Draftrs. “This has resulted in limited product choices, poor customer experiences, and a large uninsured market. Through tech-enabled automation, Draftrs offers a better product and a better experience for small firm professionals and their agents that is focused entirely on what they need.”
Draftrs describes its platform as streamlining, automating and digitizing the underwriting and distribution process for the company’s insurance carrier and broker partners to more efficiently deliver professional liability products to the small commercial market.
For brokers, Draftrs says it provides a custom-branded user interface that delivers the online experience customers in the small commercial segment require. Brokers can also use the platform to get quotes, send payment requests, issue policy documents and track client activity.
“With full API and integration capabilities, Draftrs is the only professional liability market that can empower brokers digitally from day one with custom tech and digital access solutions,” comments Curtis Corliss, co-founder and CTO, Draftrs. “From integrations into an agency’s digital quote marketing system to full custom-branded integration of the Draftrs digital customer and policy management interface, we partner with brokers to provide custom tech and integration solutions that will help them grow and better service their professional clients.
Draftrs was co-founded in 2021 by Lau, an insurance industry veteran with more than 15 years of experience in professional liability underwriting and distribution, and Corliss, the former co-founder and CTO of InsurTech solutions provider ClarionDoor. Company advisors include Bill Vit, former CEO of Aon Affinity, the MGA and programs division of Aon Brokers, and Jeremy Hitzig, former CEO of Distinguished Programs.
Already in use by brokers nationwide for architect and engineer clients, Draftrs says its platform provides better access to the most important insurance purchase for small professional firms, professional liability protection.