Zywave Launches New Centralised Cyber Quoting Platform
Zywave, a US-based software company providing software as a service (SaaS) products for insurance brokers and financial planners, has announced its latest quoting solution.
The leading software provider has unveiled a cyber insurance quoting platform, designed to transform the way insurers and distributors operate. It is the latest addition to its portfolio of quoting and proposal solutions.
The new centralised quoting platform brings together global cyber insurers and US distributors and connects them through a simplified, transparent data collection process that provides key insights into coverage submission and selection.
Rick Welsh, CEO of Killara Cyber, says: "Expanding our distribution network through Cyber Quoting with Zywave allows our programs to be available to an expansive network of distributors.
"These partners can now experience the simplicity of finding, binding and issuing leading cyber insurance coverage for their clients in a streamlined and easy-to-use platform."
Zywave's launch has been met with widespread acclaim within the insurtech community. With its user-friendly interface and advanced data analytics capabilities, the platform represents another step forward in the modernisation of the insurance industry. The platform will be able to deliver significant benefits to both insurers and distributors: by streamlining the quoting process, the platform enables faster turnaround times and greater accuracy, ultimately enhancing the overall efficiency of cyber insurance operations.
One of the key features of Zywave's new platform is its simplified data collection process. By leveraging cutting-edge technology, Zywave has developed a solution that enables insurers and distributors to gather the necessary information with ease, reducing the burden on both clients and underwriters.
In addition to its user-friendly interface and streamlined data collection capabilities, Zywave's platform also offers robust cybersecurity features to safeguard sensitive information. With cyber threats on the rise, the importance of comprehensive insurance coverage is critical in this industry.
"As cyber losses continue to rise, cyber insurance has become a critical component of risk mitigation plans for the majority of businesses—large and small," said Eric Rentsch, Zywave's Chief Product Officer. "While cyber insurance is in high demand, securing the appropriate coverages still can be a challenge."
"Tedious, time-consuming data collection is one of the biggest pain points for cyber insurance brokers and their clients," he adds.
"To make the process easier for all parties, Zywave's Cyber Quoting solution collects input through a straightforward, standardised questionnaire, resulting in less guesswork and greater efficiency across the insurance distribution chain."
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