Motor specialist underwriting agency MB Insurance Group (MB Insurance) has launched a new broker portal on its website.
The portal was tested with several brokers. It is now available for all brokers to access, enabling them to quote and bind online.
“The quote-and-bind portal is designed to make life easier for brokers. We know they're time-poor. Brokers can now use the portal to get coverage for their clients' prestige vehicles quickly and easily themselves instead of having to email details to us or fill in manual quote forms,” MB Insurance managing director Daniel McNamara said.
“It means they go straight to the front of the queue and can avoid the back and forth with cover notes and proposal form requirements by binding and producing policy documents directly from the portal.”
McNamara said MB Insurance had developed the portal over several years, and that brokers had said that it has been working well, thanks to its user-friendly interface and ability to let brokers insure multiple vehicles under a single policy.
“It's a new tool but doesn't negate brokers' ability to get on the phone or email us with bespoke risks that still need the traditional underwriting approach,” he said.
“We introduced the portal as an additional service for brokers. We're conscious that our differentiation is service. That's what sets MB Insurance apart from the big insurers.”
A recent survey from Gartner found that the Australian insurance industry continues to focus on tech investment, with many insurers who have already invested in tech saying their investments exceeded value expectations.
“IT investments must support the three industry priorities: response to economic pressures, the talent dilemma, and supply chain challenges,” said Kimberly Harris-Ferrante, distinguished VP analyst at Gartner. “Industry conditions are driving insurance CIOs to shift their investments to match these business needs.”
