C-Quence will launch its Property & Casualty suite in January using Cytora’s Property API to instantly connect hundreds of property, location and other data attributes to each Property & Casualty submission to gain a more complete view of risk. This, together with other data sources, will feed into the sophisticated algorithms that underpin C-Q Elements, C-Quence’s technology-enabled underwriting and transaction platform.
This means that Brokers can expect a similar experience for P&C that they currently enjoy with C-Quence’s Financial Lines products, namely:
- significantly fewer underwriting questions
- fast, efficient turnaround with quote to bind in minutes
- fast handling of referrals in minutes not days
- early notification of any declinatures during quotation process
- accurate setting of terms and price for every risk based on quality data enriched by Cytora
- drastically reduced transaction costs
Jacqueline McNamee, C-Quence CEO, explains: “This is a weighty partnership between two organisations that have a similar ambitious vision for the future of Commercial Insurance. Individually we are both making a difference. By combining our considerable capabilities we are confident of accelerating long needed transformation in our industry, helping brokers to place risk more easily and providing a more efficient trading experience.”
Richard Hartley, Cytora CEO, said: “Our partnership with C-Quence marks an important step in the digitisation of mid-market insurance. Cytora was built to make it easier for companies like C-Quence to reinvent the status quo, embracing technology to build better customer experiences and a better understanding of risk. We believe C-Quence is going to drive significant positive change across the industry, we have been working with them closely for some time, and it’s a pleasure to announce this partnership.”
-ENDS