Specialist insurer CFC is debuting a new broker platform designed to facilitate the sale of its cyber insurance products to small- and medium-sized businesses.
The idea is that London, UK-based company’s cyber insurance platform will enable brokers to instantly access its various products in the space.
Graeme Newman, CFC’s chief innovation officer, said that the platform is designed to counter earlier versions of online quote and bind systems that have been cumbersome.
“CFC’s new platform truly revolutionizes the process, greatly increasing efficiency for all parties,” Newman said in prepared remarks. “By answering one simple question, brokers will be able to instantly access a set of bespoke quote options based on their pre-set preferences, create brand new quote variations using a set of intuitive sliders, and bind right away.”
Developed by CFC’s in-house technology and innovation team, the cyber platform is informed by 20 years of cyber insurance underwriting and cyber claims data. CFC claims the system also has an intuitive interface and cutting-edge trading capabilities including single questions quoting, broker self-service, limit and claims profile and instant access to CFC’s expert cyber underwriters.
CFC plans to start marketing its new cyber platform on June 1, 2019.
Headquartered in London and backed by Lloyd’s, CFC is a managing general agent that serves more than 70,000 businesses in over 80 countries.
A version of this article first appeared in Insurance Journal’s sister publication, Carrier Management.
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