Speed and efficiency are key aspects of quoting cyber insurance.

Coalition understands that brokers need fast, reliable quotes to serve their clients. That’s why we make it easy for you to deliver leading cyber insurance coverage and help grow your book of business.

Our Broker Platform is designed with productivity in mind, which is why we continuously work to optimize the quoting experience and reduce extraneous tasks and other things that get in the way of delivering value to your clients.

Below, we’ll explore how brokers can quote multiple markets, customize quotes, leverage our recommendations, and help sharpen their expertise — all in a streamlined quoting experience.

Quote admitted and surplus at the same time

When starting an application, you may not always know which market is best-suited to your client. With Coalition’s Broker Platform, you have the ability to quote Admitted and Surplus cyber insurance policies at the same time based on your client’s needs — simply by checking a box.

Quoting admitted and surplus at the same time can help you save time and eliminate the need for redundant tasks.

There are differences in the coverage availability and offerings on the Admitted and Surplus lines policies offered by Coalition. Instead of choosing (or even guessing) which option is most appropriate for your client, you can quote both and avoid filling out the same application multiple times.

Quoting admitted and surplus at the same time can help you save time and eliminate the need for redundant tasks. One pass gets you multiple markets and maximum efficiency.

Quote multiple options with different coverages

In addition to quoting multiple markets, you can also customize the coverage on each option to show your clients the range of possibilities with a cyber insurance policy from Coalition.

Brokers can generate up to three customized quotes in real time on the Broker Platform.

Using our customization tools, you can adjust the limits and retentions for three quotes at once, either admitted or surplus, and see how the differences impact the premium on each quote. Based on your clients’ needs, you also have the ability to add or remove specific coverages, such as Funds Transfer Fraud or Reputation Repair.

Leveraging our multi-quote functionality can give you greater control over your clients’ quotes and help you illustrate your understanding of their unique cyber risks.

Leverage insights based on your clients’ peers 

Unsure what’s most appropriate for your client? You can follow our recommendations when selecting coverages and limits.

Coverage recommendations are a simple way to educate clients (and yourself) on the coverages that are most-commonly selected by businesses in a given industry — we’ll even tell you how many other businesses in this industry have selected this coverage tier.  

Coverage recommendations are a simple way to educate clients (and yourself) on the coverages that are most-commonly selected by businesses in a given industry.

Similarly, you can leverage our limit recommendations when deciding how much coverage your clients need. These recommendations are based on Coalition’s analysis of many factors, such as your client’s business revenue, and include claims insights from your clients’ peers and Coalition historical data.

Use these benchmarks, along with coverage comparisons, to validate that your clients have sufficient coverage to help protect against cyber risk.

Make informed decisions with contextual information

Throughout the entire quoting experience, you’ll see clickable tooltip icons with extra information. These feature necessary details to help you make well-informed decisions.

Tooltips are provided throughout the quoting flow so brokers can find out additional information.

Some tooltips provide definitions for important terms, like the difference between Surplus and Admitted markets, while others offer detailed explanations of how specific coverages work, like Funds Transfer Fraud.

Use these tooltips to your advantage and ensure you understand why we ask for certain information in our applications and how the answers you provide may impact coverage.

Start quoting cyber insurance today

We’re routinely making updates to the Broker Platform, including improvements that can help you become a more empowered risk advisor and save time with self-service capabilities. The above features are being made available to U.S. brokers on a rolling basis and will expand to brokers in other regions in the coming weeks.

Log in to the Broker Platform to start quoting cyber today or sign up to get appointed as a Coalition broker.

Insurance products are offered in the U.S. by Coalition Insurance Solutions Inc. (“CIS”), a licensed insurance producer and surplus lines broker, (Cal. license # 0L76155) acting on behalf of a number of unaffiliated insurance companies, and on an admitted basis through certain carriers. See licenses and disclaimers.

This blog post is designed to provide general information on the topic presented and is not intended to construe or the rendering of legal or other professional services of any kind. If legal or other professional advice is required, the services of a professional should be sought. The views and opinions expressed as part of this blog post do not necessarily state or reflect those of Coalition. Neither Coalition nor any of its employees make any warranty of any kind, express or implied, or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, product or process disclosed. The blog post may include links to other third-party websites. These links are provided as a convenience only. Coalition does not endorse, have control over nor assumes responsibility or liability for the content, privacy policy or practices of any such third-party websites.  Copyright © 2024. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc.