CFC trading platform gets multi-product function | Insurance Business America
Chief Executive Says Move Aims to “Make Our Agents’ Lives Easier”
By Terry Gangcuangco
London-based Managing General Agent CFC is now offering multi-product capabilities on its Connect trading platform, allowing brokers to receive binding quotes on multiple specialty commercial insurance products by answering a single question.
The move means users of the Connect platform can now automatically assess and bind recognized professional liability and technology error and desist policies, in addition to the SMB cyber protection that CFC is known for. The broker can adjust tariffs and limits and select cover elements without the recommendation of the insurer.
Graeme Newman, CEO of CFC, said in an email release, “Our proprietary technology queries numerous data points to identify business characteristics and more accurately interpret what a company is doing and how it is exposed to various risk factors.” In combination with With over 20 years of experience in underwriting and claims data, we are able to appropriately assess risk in milliseconds and without human intervention.
“Our unique advanced intelligent automation systems go beyond what has previously been achieved in the specialty commercial market. We are now expanding our dynamic autonomous underwriting capabilities across multiple lines of business, making our brokers lives easier and the whole process smoother and more efficient than anything else on the market.”
As the first trading platform to offer single-question commercial specialty insurance quotes, Connect has delivered more than $100 million in cyber rewards since its launch in 2020.
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