Relay Platform has introduced that it has launched a brand new digital quoting answer for brokers and brokers trying to safe administration legal responsibility insurance policies.
The new Relay Management Liability (ML) API answer allows retail brokers and wholesale brokers to generate quotes close to immediately and bind ML insurance policies. This answer was made potential by a direct API integration with the insurer Counterpart Insurance.
Counterpart Insurance is without doubt one of the first ML suppliers to make use of proprietary information and cutting-edge know-how in response to mounting settlement and authorized bills, a press release stated.
According to a launch, the ML answer will help administration legal responsibility coverages together with employment practices legal responsibility insurance coverage (EPL), administrators & officers insurance coverage (D&O), and fiduciary legal responsibility insurance coverage.
“At Relay, we strive for material differentiation on all levels of our product offering,” stated Relay Platform chief insurance coverage officer Anne Hasenstab. “A key component of this is identifying carrier partners led by top notch industry experts backed by financially sound capacity and a product suite that is both intuitive and innovative. Counterpart encapsulates all parts of this triad.”
Relay Platform was acquired by the San Francisco-based insurtech At-Bay final August. Following the acquisition, Relay continued to serve brokers and companions as an unbiased entity, whereas At-Bay gained entry to Relay’s devoted dealer platform and API.