It’s a common view that the insurance sector is traditional and slow to take up change. But at CFC we like to do things differently. From the get-go we prioritized technology as a means of making it easier and faster to trade with us, building a 200+ people strong Innovation Hub that continues to break new ground. This helps us give you, our brokers, more time to focus on what matters—your clients.
Technology is rife with buzzwords from AI to cloud computing, when what really matters are the parts that help you work more efficiently and give you the best chance of success. So to cut through the noise and reveal how insurance innovations can actually make your life easier, here are four top engines powering success at CFC today.
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Self-service
With sales deadlines looming, the last thing you want is to wait days for an underwriter to get back to you. Connect, our trading platform, comes with extensive self-service capabilities that empower you to get work done at speed and at a time that suits you.
As a global business we recognize the value of a service that’s available around the clock. Different clients of course live in different time zones, so why shouldn’t you be able to access frictionless trading 24/7/365? Our platform also works across multiple jurisdictions, processing thousands of quotes a month.
If you do need to speak to an underwriter at any stage our teams are always on hand to help. We have people on the ground in Europe, the US, Canada and Australia, bringing their local expertise to the table. But at times you need to just get the job done, taking advantage of your ability to self-serve can make the process faster and smarter—giving you the gift of time.
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Enrichment
Gone are the days when you need to answer endless questions to simply make a query or obtain a quote. When trading cyber and other selected products on Connect, all you need is a web address. Upon engaging with CFC you’ll activate machine learning and our proprietary algorithms, which select risks, automatically price, quote and distribute policy documentation in seconds—without the need for human intervention. Our engine surveys the widest range of possible risks, enabling us to make real-time and nuanced appetite decisions. A faster experience for you equals a smoother experience for your clients!
Our enrichment capabilities not only make the process faster, but they can make it more accurate too. While many insurance providers quote subject to an offline security scan, our database holds pre-cached data relating to over 110 million firms. This can remove the need to complete scans, making quoting faster and more deterministic.
With CFC you get fully adjustable, bindable quotes in seconds.
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Multi-channel
When time is of the essence, there are few things more frustrating than being forced to use a channel that doesn’t work for you. That’s why we provide direct access to our service through a variety of channels, be it our APIs, web portals or via email.
Whatever your channel of choice, you’ll always get the same enrichment capabilities, the same experience and, perhaps most importantly, the same price. In this way we augment the underwriting experience, enabling you to tap into our leading technological capabilities in a way that suits you.
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In-house cyber services
On top of technical expertise in our Innovation Hub, at CFC we also have the largest in-house cyber security and claims team in the market. Through our innovative mobile app for cyber, Response, our insureds can access critical security tools and expert advice 24/7 at no extra cost, and receive personalized threat alerts based on information gleaned from our threat intelligence feeds. Response also serves as a fast, direct channel of communication for our policyholders to notify us of an incident or claim.
With businesses across industries facing greater cyber risk, conveying the value of this kind of tech-savvy cyber proposition can be key in ensuring businesses receive the cover they need. What’s certain is that, as cyber threats continue to grow in sophistication and severity, we will continue to invest and innovate in this space, to help keep your clients safe.
Maximizing tech capabilities with CFC
With digital transformation changing how we all live and work, there’s great value in an insurance provider that simplifies and streamlines the process from quote to bind to renewal. That’s what CFC is all about.
If you’d like to learn more about Connect and our other technology capabilities then reach out to our team.
