C-Quence, the InsurTech MGA, has gone live with its underwriting platform, C-Q Elements, and the release of its Management Liability product ML5.
The technology platform, designed and built by C-Quence , makes it easy for brokers to deliver sophisticated commercial insurance solutions quickly, at lower cost and with enhanced levels of service compared to traditional approaches.
C-Q Elements features, for example, use of high-quality third-party data, a significantly reduced question set for quotes and underwriting with automated pre-bind “Know Your Customer” compliance (PEPs and sanctions checks).
Improved underwriting tools means that if a risk falls outside the automated process, system-driven referral recommendations reduce administrative overheads and speeds up underwriting decisions.
ML5 is a modular product which lets brokers combine Management Liability cover with up to four other covers and tailor options within each module to suit the needs of their customers. Sophisticated automated document construction tailors policies for individual clients and can seamlessly integrate endorsements into the policy wording. Short, clear, simple wordings also make the policy easy to read and understand.
Jacqueline McNamee, CEO of C-Quence commented, “Having started on 1st March last year I am proud with what our talented team have achieved in such a short space of time.
“The speed at which we have achieved our first major goal gives me great confidence that we will grow the business rapidly in 2019, delivering a Property and Casualty suite along similar lines to ML5 and continually improve the broker experience with C-Q Elements.
“I am extremely grateful to the broking firms that helped us develop C-Q Elements. Their pre-release testing and positive feedback was key to delivering a trading platform that effectively meets broker needs. We believe it sets a new industry standard for underwriting service.”
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