CFC rolls out multi-product capability on award-winning Connect platform
CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, announced today that its ground-breaking trading platform and API – Connect – now supports multiple commercial specialty lines insurance products.
Connect delivers a smarter and faster experience for brokers to get bindable quotes across multiple products in minutes on one simple-to-use platform.
By answering just one question, brokers can now auto-rate and bind admitted professional liability and technology E&O policies for more than 500 SMB professions in minutes, in addition to CFC’s market-leading SME cyber cover. Brokers can then self-service, adjusting rates and limits, choosing or removing elements of cover and binding multiple policies in just a few short clicks, without underwriter referral.
“Our proprietary technology interrogates numerous data points to ascertain business characteristics and interpret more accurately what a business does and its exposure to various risk factors. Combined with our 20 plus years of underwriting and claims data, this enables us to price the risk accordingly in milliseconds without any human interaction,” explains Graeme Newman, CEO of CFC.
“Our unique advanced intelligent automation systems go beyond what has been achieved to date in the commercial specialty market,” he continued. “We’re now expanding our dynamic autonomous underwriting capability across multiple lines of business, making our brokers’ lives easier and the whole process frictionless and more efficient than anything else in the market.’
Leveraging CFC’s API, leading digital insurance platforms can also access the multi-product trading power of Connect to deliver CFC’s market-leading SME insurance products to their brokers and clients.
Launched in 2020, Connect was the first trading platform to offer single question quoting for commercial specialty lines insurance. The platform now delivers tens of thousands of quotes each year and has delivered north of $100 million in cyber premium since its inception.
In addition to Connect, CFC also operates the market’s first mobile app for cyber, Response, and has won numerous awards for its proprietary back-end underwriting and product development platforms. The company recently opened its Innovation Hub in London to support more than 100 software engineers, developers and data scientists.
For more information about Connect or to partner with CFC, visit here.
CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber. Our global insurance platform uses cutting-edge technology and data science to deliver smarter, faster underwriting and protect customers from today’s most critical business risks.
Headquartered in London with offices in New York, Austin, Brussels and Brisbane, CFC has over 700 employees and is trusted by more than 100,000 businesses in 90 countries. Learn more at CFC.com and LinkedIn.