In a groundbreaking move set to transform the insurance industry, Embroker has joined forces with Millennial Shift Technologies (MShift) to introduce the first-ever automated Excess Technology Errors and Omissions (Tech E&O) / Cyber insurance solution. This strategic partnership, announced on June 10, 2024, marks a significant leap forward in streamlining the insurance buying process for brokers and their clients.
At the heart of this collaboration is a powerful new API integration that connects Embroker Access, Embroker’s distribution arm, with MShift’s leading policy distribution platform. This innovative solution allows appointed brokers to quote, bind, and issue Excess Tech E&O / Cyber insurance policies directly within the MShift dashboard, eliminating the need for manual searches and significantly reducing the time and effort required to meet clients’ insurance needs.
Details of the Partnership
This partnership is a big deal for the insurance industry. By automating the underwriting process for Excess Tech E&O / Cyber coverage, Embroker and MShift are addressing a long-standing pain point in the sector. The integration offers access to limits up to $5,000,000, with overhanging limits available, and provides true follow-form coverage that automatically matches the sub-limits of the primary layer.
For brokers, this partnership brings a host of benefits. The seamless integration with Embroker’s advanced underwriting system allows for automated quote generation, significantly enhancing efficiency and reliability. Brokers can now provide their clients with comprehensive coverage options more quickly and accurately than ever before. This not only saves time but also improves client satisfaction by delivering instant, tailored solutions.
The technological capabilities showcased in this partnership underscore Embroker’s commitment to driving innovation in the commercial insurance industry. By enhancing our API capabilities, Embroker is making its proprietary products available across an increasing number of distribution channels. This move aligns with our mission to radically simplify the insurance buying experience through digital-first solutions.
One of the key innovations of this integration is its ability to directly capture primary quote data via the MShift platform. This feature enables brokers to instantly deliver accurate Excess Tech E&O / Cyber quotes, boosting both efficiency and client satisfaction. The system’s ability to automatically match sub-limits ensures comprehensive protection without the need for manual adjustments.
As the insurance industry continues to evolve, partnerships like this one between Embroker and MShift are setting new standards for efficiency, accuracy, and client service. By leveraging cutting-edge technology to streamline complex processes, these companies are not only improving the day-to-day operations of insurance brokers but also enhancing the overall experience for end clients.
This collaboration represents a significant milestone in the ongoing digital transformation of the insurance sector. As we look to the future, it’s clear that innovative solutions like this API integration will play a crucial role in shaping a more efficient, responsive, and client-focused insurance industry.
For more information on our partnership and on our new API, check out Embroker Access.
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