AmTrust Financial has announced that it has joined Vertafore’s Commercial Submissions platform, a platform that has been designed to transform commercial insurance.
Vertafore is undertaking a task to improve market connectivity across the insurance distribution channel. It recently announced the first release of its Commercial Submissions platform to its carrier and agency design partners on the project.
AmTrust Financial has been working with Vertafore to develop the solution and help build out the connectivity architecture that will make the platform a success.
Vertafore’s Commercial Submissions is an InsurTech solution that connects the end-insured, agents and carriers for real-time quoting and binding on commercial policies across all sizes and business types.
By using live collaboration capabilities and real-time data exchanges, Commercial Submissions aims to solve the process of quoting and securing coverage for commercial insurance needs.
AmTrust had previously gone live on Commercial Submissions in early September for workers’ compensation. Agencies can use Commercial Submissions to submit and receive an AmTrust quote within seconds and use the carrier’s site to quickly bind the policy.
Vertafore carrier design partners will continue to add lines of business to the platform leading up to the general availability of Commercial Submissions later this year.
Vertafore CEO Amy Zupon commented: “We are so excited to provide our customers with a smarter way to process their commercial submissions in a way that benefits the entire distribution channel.
“With Commercial Submissions, insureds can expect a better experience with faster, easier access to the right commercial coverage. Independent agents can close more business, increase profitability and free up bandwidth to advise their clients. And carriers can deliver more of their products and be a partner of choice to their agencies.”
Chris Foy, EVP & Head of North American Commercial for AmTrust added: “AmTrust’s partnership with Vertafore is another exciting step in our commitment to innovation and our dedication to deliver a true digital experience to our agents.”