London Underwriters has released a beta version of its new online platform, Bunch, in the state of Texas.
London Underwriters, which has administrated its own proprietary Lloyd’s of London commercial property program for 10 years and launched several platforms for its appointed agents, has merged the two worlds into one through the new platform, the company said.
The Bunch platform allows agents to customize insurance coverage and quote and bind online, add agency fees, choose between direct bill or agency bill and the ability to access a single platform where “bunch” customers commercial P&C policies in one place.
Bunch is going to be offered exclusively to independent agents within the state of Texas during the beta testing phase. The London Underwriters team hopes to expand state availability to all 47 states which where it is licensed in the next few months. Bunch’s initial product offering will include commercial property, as well as wind and commercial property excluding wind with several enhancements such as TRIA, expanded terrorism and property enhancement endorsements.
London Underwriters has also secured additional contracts for workers compensation, cyber, equipment breakdown, and professional liability which is currently under development and is expected to be available by mid Q4 2020.
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