News Release – Relay Establishes Itself As Leading Broker Platform For Cyber Insurance With Their Latest Addition: Coalition Instant Quoting
RELAY ESTABLISHES ITSELF AS LEADING BROKER PLATFORM FOR CYBER INSURANCE WITH THEIR LATEST ADDITION: COALITION INSTANT QUOTING
Relay welcomes Coalition to the fast-growing list of carriers quoting on the innovative platform.
New York, NY – September 15, 2021 – Relay Platform (Relay), is pleased to welcome Coalition to their suite of carriers, MGA-MGUs and reinsurers offering instant quotes (API) through the platform. The integration with Relay Platform offers brokers instant quotes, augmented communication and seamless access to Coalition, the largest tech-enabled Cyber Managing General Agent (MGA).
Relay, an innovative provider of solutions enabling the digital transformation of commercial insurance and reinsurance submissions, is designed to facilitate the transition to data-first insurance placements, instant quoting, and superior broker-cedent connectivity to markets. The Relay I5 platform allows insurance brokers to visually structure placements, rapidly identify and approach the most relevant markets, and iteratively automate subsequent steps to automate client proposals and increase close and renewal rates.
“The digital risk landscape is evolving rapidly, and brokers are looking for solutions that allow them to provide immediate coverage options for their clients,” said Shawn Ram, Coalition’s Head of Insurance. “Through our partnership with Relay, we’re excited to offer an even broader number of brokers a seamless, instant quoting solution to offer cyber coverage to their clients.”
Connecting broker and carrier systems directly through APIs is transformational in delivering instant quotes to brokers. Relay unifies carriers & MGA-MGU applications and sources capacity through both real-time and manual quotes to produce a comprehensive Smart Client Proposal™ that saves hours a day and boosts success rates for agents & brokers in any Commercial Line. Through Relay, Coalition will offer comprehensive cyber coverage including financial, intangible, and tangible damage with up to $15M.
“Our I5 technology was developed to quickly combine forms across carriers and MGA-MGUs in order to speed up data entry for brokers. Our application dynamically adapts to API inputs and unlocks carriers as answers are provided. Those applications can be extended directly to policyholders/applicants, directly or for Affinity Programs”, comments Andrew deGroot, Relay VP of Enterprise Accounts and International Sales.
# # #
With Relay, brokers drastically increase their close rates by securing and comparing quotes and creating winning proposals faster, for both renewal and new business. Relay is the single-entry multi-carrier comparative-rating solution that can handle all P&C lines, across all mediums including both instant (“API”) and email quoting, at any level of complexity. Relay facilitated billions in bound coverage across insurance and reinsurance since launching in April 2020. With an exponentially growing client base in North America, Relay also counts among the few Lloyd’s accredited London market e-platforms.