Launched in 2021, bindIT aims to address brokers' slow and outdated manual approach to getting a quote on behalf of their clients. Thanks to its unique features, the platform simplifies and accelerates the process of applying for a quote and binding a policy.
Berkley said in a recent statement that the new ML product, launched in response to broker demand, will enable its brokers to handle their clients' ML quotes, document downloads, and bind policies through the secure portal.
“The launch of IT liability in September last year has exceeded our expectations in terms of broker response and feedback, so much so that brokers were asking us when they could access our other products,” said Berkley CEO Tony Wheatley.
“In response to the broker demand, we have ramped up our development timeline and expanded bindIT to include management liability. Judging by the fantastic feedback we're receiving from our brokers, bindIT is a smash!”
With the bindIT platform, brokers may obtain a “tentative quote” in only half a minute. They also do not need to call or email the Berkley team if they do not want to because the portal already provides everything required to get an ML policy.
“Berkley Insurance Australia's management liability was the next logical choice as it provides the broadest appeal to brokers. In general, all of their business clients need an ML policy,” Wheatley said.
However, Berkley clarified that it will not remove the personal touch that some brokers prefer, stating that it is committed to providing the same services from local teams, whichever way brokers choose to transact with the general insurer.
Commenting on the platform, William Gomez, account manager at Scott & Broad, said: “I love the new system, especially the question set, the ease with which I am able to gather multiple limit/excess options, as well as the document delivery.”
