VertaforeĀ®, the leader in modern insurance technology, today announced itsĀ Commercial Submissionsā¢Ā solution has been recognized for technology innovation by the NU PropertyCasualty360 Luminaries program. This industry-focused recognition program spotlights innovation by companies, people, programs, and practices that are modernizing and humanizing the P&C business.
The platform was honored for automating and simplifying one of the industry’s most time-consuming processes: quoting small commercial insurance. Honorees are selected by a panel of industry experts.
In aĀ September 2022Ā survey of 800 independent agents, Vertafore found that 65% of respondents said their agency would benefit from automated quoting for commercial insurance lines. However, less than one in ten said they had access to such technology.
Commercial Submissions is delivering a game-changing experience for independent agents and the business clients they serve by:
- Connecting agencies and carriers in real-time, allowing the exchange of structured data and real-time quoting.
- Enabling real-time digital collaboration with clients to complete applications quickly and accurately.
- Prefilling information from Vertafore agency management systems and third-party sources to reduce redundant, manual data entry.
The award reflects the platform’s growing momentum. Vertafore also recently announcedĀ the latest carriers to join Commercial Submissions, bringing even more choice to the solution.
“Commercial Submissions isn’t technology just for the sake of innovationāit is about making it faster, easier and simpler for agencies and carriers to work together to deliver the coverage their clients need,” saidĀ James Thom, chief product officer at Vertafore. “We’re honored that the platform is being recognized for helping to modernize and humanize market connectivity.”
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