Embroker, the digital insurance company radically simplifying the insurance buying experience, today announced a strategic partnership with Millennial Shift Technologies (MShift), a leading policy distribution platform for insurance brokers.
This collaboration introduces a new API integration: the first-ever automated Excess Technology Errors and Omissions (Tech E&O) / Cyber solution in the insurance space via Embroker Access. This new integration enables seamless data sharing and streamlined operations within the insurance buying process. MShift brokers appointed with Embroker Access can automatically quote, bind, and issue Excess Tech E&O / Cyber insurance directly within the MShift dashboard.
The API offers access to Excess Tech E&O / Cyber limits up to $5,000,000 with overhanging limits available and true follow-form coverage, automatically matching the sub-limits of the primary layer.
Embroker Access, the distribution division of Embroker, is dedicated to offering proprietary insurance products tailored for niche markets such as Lawyers Professional Liability, primary Tech E&O / Cyber, Excess Tech E&O / Cyber, and management liability for VC-funded companies. With this powerful API tool, Embroker Access can now provide distribution partners and multi-carrier platform providers the ability to quickly and efficiently generate Excess Tech E&O / Cyber quotes. Brokers no longer need to search for additional capacity manually — this significantly reduces the time and effort required to meet clients' insurance needs.
“Our partnership with MShift is bringing a first-of-its-kind Excess Tech E&O / Cyber insurance distribution model to market,” said Ben Jennings, CEO of Embroker. “Embroker is on a mission to drive technological innovations in the commercial insurance industry. Enhancing our API capabilities is a major step toward that goal, and to making our proprietary products available across an increasing number of distribution channels. Expect more announcements like this in the near future.”
Key benefits of the partnership include:
- An innovative solution that directly captures primary quote data via the MShift platform, enabling brokers to instantly deliver an accurate Excess Tech E&O / Cyber quote and boost client satisfaction.
- The ability to quote, bind, and issue Excess Tech E&O / Cyber all within the platform for a seamless digital experience.
- Reliable Excess Tech E&O / Cyber coverage that truly aligns with your primary policy, complete with automatic matching sub-limits for comprehensive protection.
“This partnership gives our organization further market capacity to deliver solutions to our brokers and their clients, bringing efficient placement and program development without needing to leave the MShift platform,” said Mark Meury, Founder and CEO of MShift. “Partnering with digital innovators like Embroker expands the utility of the MShift platform for brokers, benefiting their clients.”
For more information on this partnership and Embroker’s insurance offerings, visit www.embroker.com.
About Embroker
Embroker is a digital-first insurance company helping businesses manage risk with a radically simple approach. Embroker is enhancing the legacy and manually intensive technology of the commercial insurance industry with an end-to-end digital insurance platform that intelligently recommends industry-tailored coverage programs, all in minutes. Through Embroker Access, appointed brokers and wholesalers can offer Embroker’s proprietary insurance products to their customers. Founded in 2015, Embroker is headquartered in San Francisco and has raised more than $140M in funding from leading Fintech and Insurtech investors. With a Net Promoter Score (NPS) of 70+, Embroker is also the highest-rated business insurance company in the market. Visit www.embroker.com for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240710651927/en/
Contacts
Claudia Costello
104 West for Embroker
Claudia.costello@104west.com
