Addition enhances options and connectivity for commercial insurance, further strengthening the industry-leading platform
DENVER, Jan. 10, 2023 /PRNewswire/ — Vertafore®, the leader in modern insurance technology, today announced that Coterie Insurance has gone live on Vertafore’s award-winning Commercial Submissions™ platform with BOP and general liability lines of business. As the first MGA on the platform, Coterie will provide independent agents with even more options to bind and quote small commercial insurance through a seamless, automated experience.
Since entering general availability last spring, hundreds of independent agencies have used Commercial Submissions to streamline and simplify the time-consuming process of quoting small commercial insurance lines. The platform’s automated data entry systems and faster connectivity with carriers and MGAs have delivered transformative results for independent agents, helping them deliver a better experience for the business clients they serve.
Founded in 2018, Coterie Insurance is a partner-focused company transforming small business insurance, empowering agents and brokers through a completely digital experience. With its mission of reinvigorating the industry by providing smarter digital tools, Coterie’s forward-thinking vision and goals closely align with those of Commercial Submissions. Coterie expands the number of specialized commercial options available to agencies using Commercial Submissions.
“We are excited to engage with Vertafore’s vast network of agents on the Commercial Submissions platform and offer our BOP and general liability quotes to their agents,” said Becky Monfre, Coterie’s director of digital partnerships. “Coterie is uniquely positioned on the platform to offer bindable quotes with minimal questions, as a fully digitally underwritten insurance product. This puts a quote in the agent’s hand to present to their clients within minutes, offering unique products and coverage in all 50 states.”
The manual process of quoting essential business coverage has long been a pain point for independent agents. In Vertafore’s Fall 2022 survey of 800 independent agents, 65% of respondents said their agency would benefit from automated quoting for commercial insurance lines.
Connectivity also matters for carriers, MGAs, and other stakeholders in the insurance marketplace. As demand rises for commercial insurance products, better connectivity through technologies like Commercial Submissions enables carriers and agents to better compete in a dynamic market.
“We are thrilled to welcome Coterie Insurance to Commercial Submissions and to further increase connectivity across the entire insurance distribution channel,” said James Thom, chief product officer at Vertafore. “Coterie’s addition expands access to their policy solutions and adds to the platform’s momentum, providing participating agents with another communicative, world-class partner who can help them quickly match customers with the product options that are right for them.”
Late last year the NU PropertyCasualty360 Luminaries program recognized Commercial Submissions for technology innovation. This industry-focused recognition program spotlights innovation by companies, people, programs, and practices that are modernizing and humanizing the P&C business.
As North America’s InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore’s solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers. For more information about Vertafore, visit www.vertafore.com.
©2023 Vertafore and the Vertafore logo are registered trademarks of Vertafore. All rights reserved. All other trademarks are the property of their respective owners.
About Coterie Insurance
Coterie Insurance is revolutionizing small business insurance by enabling instant coverage. By sourcing publicly available data, Coterie’s technology employs digital underwriting to enable a transparent and accurate quoting and binding process. Coterie arms agents, brokers, and partners with cutting-edge tools to get small businesses the coverage they need. With the most expansive appetite on the market, Coterie is dedicated to seeing the small businesses of today succeed. For more information about Coterie Insurance and the digital transformation of small business insurance, go to coterieinsurance.com.
Liz Reilly, Next PR
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.