Chicago-based online brokerage InsuranceNoodle Inc. has created a new division to offer offer professional liability and specialty small commercial property/casualty insurance products on a national basis using the firm’s proprietary technology.
The new division, Noodle Specialty Brokers (NSB), will provide retailers and wholesalers online access to specialty small commercial products not available from national standard lines small commercial P/C carriers, the company claimed. NSB will offer admitted and non-admitted products as a program manager for nationally recognized carriers.
NSB’s Internet-based front end includes appetite information—which enables submitting producers to quickly determine if a specific product is available—and screens unwanted risks before being seen by the underwriter. The technology package also handles submissions, quotes and service for active policies, creates a submission management platform, date- and time-stamps each transaction, and creates a complete electronic file. The program database analyzes submission and transaction information thoroughly and instantly and provides the ability to deliver an application electronically to a referral underwriter and translate the application into ACORD and supplemental applications.
The Noodle Specialty Broker team—which includes Angelo Gioia, executive vice president, professional underwriting, Richard Legere, Tom Neeley and John Dunn—offers a blend of both insurance company and brokerage expertise and a broad range of underwriting, actuarial, financial and technology experience. InsuranceNoodle is licensed in 49 states.
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