the specialist insurance provider and pioneer in emerging risk, today
announced its new cyber insurance platform, enabling brokers to
instantly access and ‘self-serve’ CFC’s market-leading cyber insurance
products for SME businesses.
“Online quote and bind systems have historically been cumbersome, simply
shifting the workload from the insurer to the broker and lacking in
terms of flexibility,” said Graeme Newman, Chief Innovation Officer at
CFC. “CFC’s new platform truly revolutionizes the process, greatly
increasing efficiency for all parties. 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 and powered
by 20 years of cyber insurance underwriting and cyber claims data, CFC’s
cyber platform boasts an intuitive interface and cutting-edge trading
Single-question quoting: Using a single piece of client data,
brokers can generate a comprehensive cyber insurance quote tailored to
their client’s unique risk profile, as well as coverage variations
most commonly requested by similar businesses.
Broker self-service: Unlike traditional quote and bind
platforms, CFC’s cyber platform provides greater self-service by
enabling brokers to adjust quotes – including limits and deductibles –
without underwriter involvement, as well as bind quotes with a single
Limit & claims profile: In addition to a cyber quote,
brokers receive a limit and claims profile based on their clients’
size, industry and location. These benchmarks give clients visibility
into the most common limits purchased, and the most common claims
made, by their peers. Brokers can also access industry-specific cyber
claims resources and educational materials to help their clients
better understand the benefits of cyber insurance.
Instant access to CFC’s expert cyber underwriters: Brokers can
connect with CFC’s cyber underwriting team, one of the largest in the
world, through the platform in real-time, ensuring the same commitment
immediate service brokers have come to expect from CFC.
cyber insurance policies offer comprehensive cover for cybercrime,
business interruption, privacy liability and breach notification, and
are backed by an industry-leading in-house cyber claims and incident
response team. CFC’s cyber insurance customers also have access to
best-of-breed risk management services and tools.
Newman continued, “Technology innovation is at the heart of what we do
at CFC, and this new platform is only the first in what we hope is a
long line of truly transformative tools to smooth the transaction
process with our brokers, helping them to more quickly and seamlessly
deliver service to clients.”
Launched at its inaugural US broker conference, CFC
Summit, taking place this week in Chicago, CFC’s new cyber platform
will be available on 1 June 2019.
CFC is a specialist insurance provider and a pioneer in emerging risk.
With a track record of disrupting inefficient insurance markets, CFC
uses proprietary technology to deliver high-quality products to market
faster than the competition while making it easier for brokers to do
business. Our broad range of commercial insurance products are
purpose-built for today’s risks, and we aim to give our customers
everything they need in one, easy-to-understand policy.