Amwins, a global distributor of specialty insurance products and services, has added residential flood coverage to its online marketplace, Amwins InstantQuote.
Amwins IQ gives retail agents with choice and flexible coverage options, aiming to create a one-stop shop for flood risks. It provides instant quote-to-bind capability from multiple carriers while allowing users to gain quick access to A-rated carriers while retaining the opportunity to benefit from the support and expertise of Amwins’ underwriting specialists.
Colin Tinley, Senior Vice President, Amwins Access, commented: “Our aim is to provide a meaningful cross-section of the market and to deliver price and coverage transparency. Unlike other digital platforms, Amwins IQ doesn’t just offer straight-through policy processing.
“Retailers are able to engage with our experienced underwriters on more complex risks. And by delivering product density, retailers can streamline their operations by utilizing Amwins IQ as a comprehensive one-stop solution, eliminating the need to navigate multiple platforms or providers.”
Amwins’ experienced underwriting team is backed with more than 100 years of flood underwriting experience and more than $40 billion in insurable values placed through its private market flood program.
Additionally, Amwins IQ gives access to a multitude of proprietary market offerings, including exclusive flood programs that can compete both with the NFIP and other private carriers.
Tom Parsons, Head of Digital Strategy, Amwins, commented: “The addition of residential flood coverage to our Amwins IQ online marketplace continues our commitment to empowering retail clients with more options and faster service.
“Our unique digital flood marketplace seamlessly connects expert underwriters with intuitive technology, tapping into a robust panel of quality flood markets.”
Currently, Amwins IQ’s new flood capability is live in 21 US states with a nationwide footprint expected by the end of the year.
