Global specialist re/insurer Hiscox is set to expand its reach to independent agencies using IVANS Markets, which promises to provide access to a network of more than 32,000 agents.
Leveraging the service from IVANS, a division of Applied Systems, Hiscox will market appetite details for its partner wholesalers, including Apogee, Braishfield Associates, Jimcor Agencies, London Underwriters and USG Insurance Services.
“We are always looking for innovative ways to put our products in front of agents at the moment they are searching for appetite,” said Tatiana DeJongh, senior partnership manager, Hiscox USA.
“IVANS Markets will enable us to create more awareness of our products and drive more profitable business through our wholesale partners,” she added.
IVANS Markets provides re/insurers and MGAs with an application to instantly communicate appetite and identify new business opportunities with current and prospective agencies. The digital channel also aims to reduce dependency on more time-consuming manual processes.
On average, IVANS Markets communicates 5 million recommendations to agents each month.
“Specialty insurers typically do not have a large agency network in which they can promote their appetite, making it time consuming and tedious to build new agency relationships,” said Brian Wood, Vice President of Data Products Group, IVANS Insurance Solutions.
“Leveraging IVANS Markets, Hiscox will be able to expand their product awareness and more quickly drive growth with a broader network of agencies.”
