SAN FRANCISCO, CA, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Embroker, the insurtech transforming specialty insurance, today launched Embroker Access, a new online service that allows retail and wholesale brokers to offer Embroker’s best-in-class digital insurance products. The company also announced that its instant management liability package, previously only offered to technology companies, is now available to all private businesses. This new service and expanded product set cap off a year of continued innovation and record growth as Embroker works to remake the business insurance industry.
“We’ve always known brokers are a key relationship for many business owners, and we’re thrilled to be opening up our platform and giving leading brokers and wholesalers an edge with access to quote and bind Embroker’s best-in-class digital products in minutes,” says Matt Miller, Founder & CEO of Embroker. “Every business should have access to market-leading coverage at the best price, and with Embroker Access they can, whether they work with a traditional broker or prefer to go direct.”
In a limited three month private beta of Embroker Access, Embroker’s partner agencies sold more than $2M of premium. Through Embroker Access, brokers are able to offer all of Embroker’s award-winning digital insurance products to their customer base, allowing them to benefit from market-leading coverage, instant quotes, and average premium savings of more than 25%. With the integrated management portal, brokers can maintain an overview of all their clients and their coverages, easily track, renew, or change their policies, and manage payments digitally.
“Embroker’s products are market-leading, their team provides fast and knowledgeable feedback and the ease of use with their platform has led to a much more efficient quote, bind and policy issuance process for our team,” said Javier Gonzalez, Principal/Executive VP of Sales PL Risk Advisors, Inc.
Embroker also announced today that its market-leading management liability package, which includes Directors & Officers coverage and Employment Practices Liability insurance, is now available to any private company in the U.S. Businesses fill out one short application, instantly receive two quotes, and can purchase the package in under ten minutes.
“2020 has been a transformative year for Embroker, as the game-changing advantages of fully digital insurance have become increasingly clear to both customers and brokers” says Matt Miller, “Since January, we have more than tripled the number of new customers we are adding each month, and all signs point to further acceleration in 2021.”
Embroker offers seven proprietary end-to-end digital specialty insurance products, more than any other insurtech, including directors and officers, employment practices liability, professional liability for lawyers, and errors & omissions and cyber coverage for technology companies. All of the products are instantly underwritten by Embroker’s intelligent insurance platform and are fully backed by A+ rated reinsurers including Munich Re and Everest Re.
For more information visit www.embroker.com and brokers interested in learning more about Embroker Access can contact brokers@embroker.com.
About Embroker
Embroker is transforming specialty commercial insurance by making it radically easier for businesses to get the right insurance at the best price. Focusing on industry-specific coverage for the most complex and inefficient lines of insurance, such as Directors and Officers, Employment Practices Liability, Cyber, and Professional Liability, Embroker uses smart technology powered by machine learning to fully automate underwriting and make the buying process simple, fast, and more affordable. Through Embroker Access, Embroker provides partner agencies and wholesalers the capability to offer all of Embroker’s industry leading specialty insurance products to their customers. Founded in 2015, Embroker is headquartered in San Francisco and has raised more than $50M in funding from leading Fintech and Insurtech investors.