Zywave, a leading InsurTech provider, has unveiled its latest offering, Cyber Quoting, aimed at simplifying insurance distribution processes.
With Cyber Quoting, Zywave aims to address the growing demand for cyber insurance by providing a centralised platform that connects global cyber insurers and U.S. distributors.
This innovative solution streamlines the data collection process, offering valuable insights into coverage submission and selection.
The introduction of Cyber Quoting marks a strategic move to tackle the challenges associated with securing appropriate cyber insurance coverages in an increasingly digitised world.
As cyber losses continue to escalate, cyber insurance has become a critical component of risk mitigation plans for businesses of all sizes.
Eric Rentsch, Zywave’s Chief Product Officer, commented, “As cyber losses continue to rise, cyber insurance has become a critical component of risk mitigation plans for the majority of businesses—large and small. While cyber insurance is in high demand, securing the appropriate coverages still can be a challenge.”
“Tedious, time-consuming data collection is one of the biggest pain points for cyber insurance brokers and their clients. To make the process easier for all parties, Zywave’s Cyber Quoting solution collects input through a straightforward, standardised questionnaire, resulting in less guesswork and greater efficiency across the insurance distribution chain.”
The benefits of Cyber Quoting extend to both cyber insurers and distributors, offering expanded market access and a wider selection of coverage options.
By facilitating seamless communication and collaboration, the platform enables insurers and distributors to accelerate distribution, develop new cyber insurance products, and adapt to evolving market dynamics.
Rick Welsh, CEO of Killara Cyber, added, “Expanding our distribution network through Cyber Quoting with Zywave allows our programs to be available to an expansive network of distributors. These partners can now experience the simplicity of finding, binding and issuing leading cyber insurance coverage for their clients in a streamlined and easy-to-use platform.”
The launch of Cyber Quoting underscores Zywave’s commitment to driving innovation in insurance distribution.
As the largest digital enabler of quoting solutions in the market, Zywave continues to empower customers with cutting-edge technology that improves communication, maximises efficiency, and enhances overall satisfaction.
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