Vortex Weather Insurance has announced that it will enhance its parametric weather index insurance offerings with an all-new, fully automated weather insurance portal.
The company’s new Weather Insurance Portal is an industry-leading digital insurance platform that will allow event organizers and insurance brokers to quote, bind, and insure outdoor events online within just a matter of minutes.
The portal will speed up the underwriting process for parametric weather insurance, as it will offer a seamless user experience from logging in, to binding the policy quickly.
All that event organizers will have to do is just simply enter their business name, event location, date and time(s), rainfall threshold, and the amount of revenue to insure and the policy will be generated almost immediately.
At the same time, users will have around-the-clock access to creating quotes, tracking rates, and binding and activating policies on the spot. Claims and settlements will also be viewable in the system too.
Furthermore, insurance brokers who also add Vortex Weather Insurance to their portfolio will also benefit from access to the Portal. Within the system, brokers can easily clone quotes for repeat events and generate documentation instantly.
Andy Klaus, CPCU, Vortex Vice President of Business Development, commented on the launch of the portal: “We’re excited to introduce the Portal and its technology to insurance providers. The Portal offers these providers and their clients parametric rain insurance policies from quote to binding in a matter of minutes. This is a massive leap forward for the insurtech industry!”
