Insurance DECODED
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Amwins rolls out new ‘InstantQuote' online marketplace
Global specialty insurance products and services distributor Amwins has introduced a new online marketplace, Amwins InstantQuote (Amwins IQ).
Amwins IQ allows the company to quickly access bindable quotes from multiple carriers. It integrates the convenience of online quoting with property and casualty (P&C) wholesalers’ capabilities.
The platform is designed to streamline the online quoting process for retailers, allowing them to get instant access to quotes from various carriers by comparing multiple markets with a single application.
Retailers will have the option of choosing from the selection of quality markets with automatically added pre-negotiated amendatory endorsements and the support of Amwins specialists.
The marketplace is particularly suited to middle market and personal lines accounts.
According to Amwins, the digital technology behind Amwins IQ provides carriers with enhanced access to opportunities, underwriting control, predictive insights and portfolio management.
The company also said that there is a built-in referral system for risks that require manual underwriting, while Amwins brokers will also be available for assisting clients with complex insurance placements.
Currently, the Amwins InstantQuote marketplace provides coverage for homeowners, dwelling, condo and wind, with imminent plans to include flood coverage.
The platform allows for a seamless transition between personal lines and professional lines offerings, noted Amwins.
Multiline quoting is available for various professional lines coverages on Amwins IQ, including cyber liability, miscellaneous errors and omissions insurance (E&O), directors and officers insurance for private and non-profit entities, employment practices liability insurance, tech E&O with cyber, and crime.
Over the coming months, the company anticipates the launch of fiduciary and registered investment advisors coverages.
Amwins chief operating officer Ben Sloop said: “Amwins IQ represents the next evolution of digital capabilities in the specialty space, empowering retail clients by giving them choice and speed of execution.
“Our digital marketplace is the only seamless experience in the market, powered by our expert underwriters and technology, and is backed by our firm's investment in data and analytics – providing our customers a high level of confidence in the quality of coverage they can procure for their small to mid-sized accounts.”
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