Honeycomb Insurance, a leading InsurTech company focused on providing innovative insurance solutions, has launched a new property qualification programme.
The new programme aims to assist agents and brokers in quoting commercial properties such as condominiums efficiently and in identifying multiple risks associated with these properties in minutes, according to InsurTech Insights.
This innovative technology streamlines data from various sources to provide detailed information on roof damage, repairs, potential problems, and general maintenance using first-party data. It also extracts third-party data for additional property details.
The newly introduced programme, called ‘AQ’, offers agents and brokers the capability to scan for data and receive critical information related to properties in approximately five minutes.
This enables agents to identify and include suitable properties in their coverage portfolios with greater ease and efficiency.
Currently available to all appointed Honeycomb agents, the ‘AQ’ product is poised to evolve into a self-service option for agencies, property managers, investors, and other stakeholders in the future. This step comes as part of Honeycomb’s broader strategy to enhance the scalability and efficiency of its services.
The launch of the AQ product follows Honeycomb Insurance’s recent success in completing a $36m Series B funding round. This achievement underscores the company’s commitment to expanding its technological capabilities and market reach. Honeycomb Insurance was founded by Itai Ben-Zaken and continues to drive innovation in the InsurTech space.
Roy Feig, VP of product for Honeycomb, commented, “We want to make it easier for brokers to identify properties, and grow and scale their coverage efficiently.”
Honeycomb Insurance specialises in writing policies for commercial risks related to multi-family properties and occasionally for mixed-use environments. The company is dedicated to revolutionising the insurance industry with advanced technological solutions.
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