Insurance agencies, brokers and wholesalers can now apply for expedited appointment and access to Great American's commercial products, including business owner's policy
NEW YORK, NY / ACCESSWIRE / February 8, 2024 / Today, CoverForce, the first independent API to deliver instant quotes and one-click binding from the leading insurance carriers, announced a partnership with insurance veteran, Great American Insurance Group, to give appointed agents and brokers nationwide digital access to their commercial insurance products.
With this partnership, CoverForce is the first company to provide digital access to Great American's workers' compensation, business owner's policy (BOP) and other commercial products.
"CoverForce brings market-leading one-click convenience, simplicity and error-free processing to the way retail and independent agents, brokers, wholesalers and carriers interact, while also providing them with the tools to manage those interactions," said Cyrus Karai, CEO and Co-Founder of CoverForce. "We are proud to be one of Great American's largest alternative distribution partners, demonstrating that our solutions, built in lock-step with carriers, are developed for large wholesalers, brokerages and network groups at scale."
Great American customers now have access to CoverForce's feature suite which also includes both its quote & bind Agent Portal and Management Portal that sync directly into top agency management systems. With CoverForce, agents and brokers can apply for expedited appointments with Great American, while wholesalers can track submissions across all retail agencies from start to finish.
"We are excited to further our commitment to deliver a market-leading digital experience for business owners' and workers' compensation policies and our appointed agents through this partnership," said Kristen Mielcarek, Divisional VP, Alternative Distribution at Great American. "With CoverForce's modern technology, our products are more accessible to retail agencies, independent agencies and wholesalers, giving us a better understanding of the appetite while drastically reducing the time between requesting a quote and purchasing a policy."
While the typical underwriting process can take an average of one to three weeks due to back-and-forth phone calls and emails, CoverForce has integrated with Great American's API suite to provide an end-to-end purchase experience of appetite, quoting, binding and issuance. This streamlined quoting process takes minutes versus weeks, helping agents access Great American small and medium business products digitally. Agents can significantly increase their sales throughput and reduce their administration time.
In less than a year of operation, CoverForce has already onboarded more than 3,500 users and partners across the country - including independent agency networks like ISU Insurance Agency Network, as well as agency management system NowCerts - to access quotes from top property and casualty insurance carriers and bind in a simple one-click through its industry-leading API.
Great American's network of appointed agents can now digitally access its robust product suite and appetite in all 50 states with CoverForce's offering.
To request a Great American appointment or access CoverForce's products today, visit www.coverforce.com or send an email to [email protected].
About CoverForce
CoverForce has built a foundational, easy-to-integrate API that digitally connects agencies and corporate customers with insurance carriers. For agents, the company's core infrastructure and customized software enable instant quotes from top, best-fit carriers and one-click bind and pay. For carriers, the company unlocks new distribution channels and faster underwriting and sales, guaranteeing control over access and providing access through its customized enterprise software for agencies and robust APIs. CoverForce has integrations with leading insurance companies - Travelers, Liberty Mutual, Chubb and more - across all major commercial insurance lines, including general liability, BOP, workers' compensation and cyber products.
A product of the University of Pennsylvania's Innovation Fund, CoverForce has more than 3,500 users on its platform - thanks in part to investors and advisors from Nyca Partners, Muir Capital, QED Investors, Microsoft and Uber. For more information, visit www.coverforce.com.
About Great American
For more than 150 years, customers have trusted us to protect what matters most to them.
Great American Insurance Group's roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Our innovative and specialized insurance solutions are designed to serve niche marketplaces that we know well. With our deep expertise and financial strength, we have laid a foundation of success that has stood the test of time.
Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged in property and casualty insurance. With more than 30 specialty property and casualty insurance businesses, we're well-positioned to offer tailored insurance solutions to meet businesses' unique needs. Great American Insurance Company has received an "A" (Excellent) or higher rating from the AM Best Company for 115 years (most recent rating evaluation of "A+" (Superior) affirmed December 16, 2022).
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SOURCE: CoverForce