Access to any insurance market worldwide

[Laura A]

Hi all,

I am new here! I am building a tool for insurance agents to search for any insurance policy (particularly hard to place policies), match with and get access to global insurance markets. For e.g. $5k premium product recall policy for a kombucha manufacturer.

Appreciate any thoughts if this is something you think can be helpful to you? The tool would match you directly with carriers that are most likely to provide a quote and the status of every policy and documentation required would show on the platform (live tracking).

Thanks!

 

[somarco]

I presume such a tool does not exist at this time.

It would seem most casualty agents know their market reasonably well including SL carriers. Have you researched the demand for such a tool?

 

[marindependent]

.... and - worldwide?[!][#]

 

[somarco]

.... and - worldwide?[!][#]

If you are lounging in your cabana on your private island, and need to find coverage for a rikshaw fleet in SanFran, you can login to the tool from anywhere in the world and get a quote, chop-chop.

 

[Laura A]

@somarco :
Yes you are right, nothing like this exists at the moment. I have interviewed quite a bit of agents and there seems demand among independent agents who can’t get appointed with certain carriers (or have to go through wholesale brokers).

On this forum to further validate demand, so any other thoughts you have are appreciated!

 

[Laura A]

@marindependent: that's the goal. We are starting with US and UK carriers. We believe that by increasing the geographic footprint, agents (and ultimately customers) get better quotes and coverage. What are your thoughts on this?

 

[tikibarrister]

Existing agents will hate it because it devalues their expertise.

Insurers will hate it because it increases their competition.

Consumers will suffer because every wet behind the ears agent will suddenly be pitching himself as an expert on everything and the consumer will have to hunt for someone who really knows the niche.

So what’s the benefit to society again?

 

[somarco]

Existing agents will hate it because it devalues their expertise.

Insurers will hate it because it increases their competition.

Consumers will suffer because every wet behind the ears agent will suddenly be pitching himself as an expert on everything and the consumer will have to hunt for someone who really knows the niche.

So what’s the benefit to society again?

Mr. Nice Guy weighs in . . .

I understand and appreciate your point. P&C isn't in my wheelhouse but I know enough about it and the SL market to know that just because an agent can QUOTE a rate does not mean they UNDERSTAND what they are doing.

 

[marindependent]

I need coverage for a startup rickshaw business in the self declared state of Somilland.

 

[Hawaii Agent]

I am looking for coverage on a bike sharing operation in Hawaii and have had difficulty finding a market. I have it out with 2 different brokers now (that haven't immediately declined like the other 10+) but if you're able to find additional markets, that would show the validity of your product. Please advise if you are able to assist. I'm on a short time-frame (about 3 weeks from expiration)