Business insurance platform Embroker has launched its technology platform, a system which allows businesses to digitize existing policies and data, analyze, compare and buy coverage, and file and manage claims.
Embroker’s founder and CEO said insurance is no different than any other area of finance in its ability to be disrupted by technology.
“There’s a massive opportunity for well-designed modern technology products to transform the world of commercial insurance, which is unsustainably inefficient,” Matt Miller said. “By automating manual processes and making costs and value transparent, we are saving companies time and money and making sure they end up with the coverage they need to match their actual risk.
“Insurance can be one of the biggest costs a business faces, so getting the right insurance coverage at the right price can have a huge impact on profitability.”
Embroker has existing relationships with seven of the top ten commercial carriers and more than 25 overall and offers both standard and customized policies. They have also tapped into the industry by hiring licensed insurance experts and risk managers.
Two vice presidents have also been added. Former United Benefits Advisors CEO Thomas Mangan will address employee benefit operations while Deanne Johnston comes over from Fireman’s Fund Insurance to work in compliance and human resources. She will also serve as general counsel.
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