(Image source: Coterie Insurance homepage.)
Vertafore (Denver), a provider of distribution-related insurance technology, has announced that Coterie Insurance (Cincinnati) has gone live on Vertafore’s Commercial Submissions platform with BOP and general liability lines of business. As the first MGA on the platform, Coterie will provide independent agents with even more options to bind and quote small commercial insurance through a seamless, automated experience, according to a Vertafore statement.
Since Commercial Submissions entered general availability last spring, hundreds of independent agencies have used the platform to streamline and simplify the time-consuming process of quoting small commercial insurance lines, Vertafore reports. The platform’s automated data entry systems and faster connectivity with carriers and MGAs have delivered transformative results for independent agents, helping them deliver a better experience for the business clients they serve, the vendor statement says.
Becky Monfre, Director of Digital Partnerships, Coterie Insurance.
Founded in 2018, Coterie Insurance describes itself as a partner-focused company transforming small business insurance, empowering agents and brokers through a completely digital experience. “With its mission of reinvigorating the industry by providing smarter digital tools, Coterie’s forward-thinking vision and goals closely align with those of Commercial Submissions,” a Coterie statement says. “Coterie expands the number of specialized commercial options available to agencies using Commercial Submissions.”
“We are excited to engage with Vertafore’s vast network of agents on the Commercial Submissions platform and offer our BOP and general liability quotes to their agents,” comments Becky Monfre, director of digital partnerships, Coterie Insurance. “Coterie is uniquely positioned on the platform to offer bindable quotes with minimal questions, as a fully digitally underwritten insurance product. This puts a quote in the agent’s hand to present to their clients within minutes, offering unique products and coverage in all 50 states.”
The manual process of quoting essential business coverage has long been a pain point for independent agents. Vertafore reports that its Fall 2022 survey of 800 independent agents showed that 65 percent of respondents said their agency would benefit from automated quoting for commercial insurance lines.
James Thom, Chief Product Officer, Vertafore.
Connectivity also matters for carriers, MGAs, and other stakeholders in the insurance marketplace, Vertafore. As demand rises for commercial insurance products, better connectivity through technologies like Commercial Submissions enables carriers and agents to better compete in a dynamic market, the vendor asserts.
“We are thrilled to welcome Coterie Insurance to Commercial Submissions and to further increase connectivity across the entire insurance distribution channel,” comments James Thom, chief product officer, Vertafore. “Coterie’s addition expands access to their policy solutions and adds to the platform’s momentum, providing participating agents with another communicative, world-class partner who can help them quickly match customers with the product options that are right for them.”
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