Pathpoint Launches Cyber Insurance’s First Multi-Carrier Instant Quote Platform, Delivering Multiple Quotes In 2 Minutes
Designed exclusively for independent retail agents & supported by multiple best-in-class carriers, platform features single online Cyber application with just 9 underwriting questions
Based on feedback from key agency partners, Pathpoint, the insurance industry’s first digital E&S distributor, announced the launch of a new capability previously not available to independent retail agents: access to multiple Cyber quotes from multiple leading carriers through a single online application containing only 9 underwriting questions.
The new product removes significant friction from the process of buying Cyber coverage by providing three innovative features, all made possible with Pathpoint’s technology. First, it allows agents to generate multiple Cyber quotes with just 9 underwriting questions. Second, it enables agents to access best-in-class international carriers, including surplus lines markets that aren’t traditionally accessible to retailers. And third, it uses a single standardized online application and question set that all underwriters accept, developed in collaboration with the world’s leading Cyber carriers.
“Agents were telling us that quoting Cyber is a top priority for them in 2021, especially with the increased risks their clients face from remote working,” said Bobby Touran, Co-Founder and CEO of Pathpoint. “Since it’s important, we made it a priority to be the best at it.”
“Traditionally, agents have spent all day going into quoting portals one-by-one, and we don’t think that’s the way it should be – why make the agent repeat the same information over and over?” Touran continued. “Pathpoint’s technology streamlines the process, making it possible for agents to grow their business by generating a competitive selection of Cyber quotes for every commercial account with ease.”
Keeping with its strategy to maximize efficiencies gained from technology, the new Cyber quoting product is delivered through Pathpoint’s market-leading online platform with Pathpoint serving as the surplus lines agent and handling all servicing and compliance on the back-end.
Pathpoint’s newly updated Cyber capabilities, which are available to all its retail agent users effective immediately, represent the first in a series of business lines to be optimized and released throughout 2021 on the Pathpoint platform.
“We have been placing more and more Commercial General Liability insurance with Pathpoint since they launched in late 2020, and we can’t imagine going back to how we used to access E&S quotes. Their new platform update addresses a big need for us – selling Cyber, which is a benefit to our clients and helps deepen our relationships with them. Pathpoint’s update will allow us to do just that, and in a way that isn’t cumbersome for an already complex and hard to understand product,” said Justin Eggar, CEO of Quantum Assurance, an agency that has been working with Pathpoint.