Speciality insurance coverage supplier Amwins has expanded its on-line market, Amwins InstantQuote (Amwins IQ), to incorporate residential flood protection, providing retail brokers a platform for flood dangers.
Amwins IQ claims to mix the comfort of on-line quoting with the experience of property and casualty wholesalers.
This new function supplies entry to A-rated carriers and the assist of Amwins’ underwriting specialists.
Launched final month, Amwins IQ is designed to enable brokers to safe quotes and bind protection whereas leveraging Amwins’ community and market choices.
The insurer claimed that it presents over 100 years of collective flood underwriting expertise and greater than $40bn in insurable values positioned.
Amwins IQ’s flood quoting functionality additionally consists of proprietary market choices and unique flood programmes which can be mentioned to compete with each the Nationwide Flood Insurance coverage Program and different non-public carriers.
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The addition of flood protection to Amwins IQ is at the moment obtainable in 21 US states, with plans to increase its attain nationwide by the top of the yr.
Amwins Entry senior vice chairman Colin Tinley mentioned: “Our goal is to supply a significant cross-section of the market and to ship worth and protection transparency. Not like different digital platforms, Amwins IQ doesn’t simply supply straight-through coverage processing. Retailers are in a position to have interaction with our skilled underwriters on extra advanced dangers.
“And by delivering product density, retailers can streamline their operations by utilising Amwins IQ as a complete one-stop resolution, eliminating the necessity to navigate a number of platforms or suppliers.”
Earlier this yr, Amwins agreed to accumulate wholesale E&S insurance coverage brokerage Related Threat Options from BRP for an undisclosed sum.
