The solution gives Crux Underwriting access to real time data in one place, as well as the capability to map risk across multiple properties and issue a quote in minutes.

In the past, administrative processes such as submission ingestion, quoting and document generation have been notoriously outdated, analogue and slow for MGAs. Crux Underwriting has a fully digital end-to-end solution for managing its customer data, generating documents and, ultimately, binding policies for insured parties. The product offers more automated transactions not only for Crux Underwriting but brokers, carriers and all stakeholders in the insurance ecosystem.

Built on Azur Technology’s own platform, MGA Connect, the new product means an underwriter can identify risk almost immediately, without spending days or weeks manually analyzing data. This is made possible with a bespoke Blast Zone tool, a digital aggregation solution developed by Azur Technology that displays the risk level of insuring a property (or multiple properties) against terrorism in a specific geographical location. As an example, in the case of Crux Underwriting the software will detect the risk of damage from a terrorist attack within a pre-defined radius of a property such as a hotel or landmark and can calculate risk for up to 3,000 sites in minutes. Underwriters can see information on any property, such as policy limits and exposure to risk, and then submit a quote to a broker at unprecedented speed.

Speaking about the MGA Connect platform, Crux Underwriting founder and CEO Graham Elliott said:

“As an MGA, you want your data in one place from the get-go and to make it easy and efficient for brokers to trade with you. Azur Technology combines CRM capabilities with all the digital admin tools you need, like quote generation, that make the business run smoothly. It’s a logical choice”.

Andrew Xu, Tech Lead at Azur Technology, added:

“The solution we’ve built for Crux Underwriting, which incorporates Blast Zone, is unlike anything else on the market for MGAs. A broker can send a list of addresses they need insured and, with our technology in place, the MGA can build a quote in about three minutes. And we know the faster you can quote, the more chance you have of winning the business. The industry has not seen the processing of multiple locations at this scale and speed before, so it’s very exciting”.

In Q4, Azur Technology will deliver the second phase of its project for Crux Underwriting. This comprises a broker-facing portal known as The Hub, which will further reduce the time it takes to produce or accept quotes and improve UX.

Azur Technology’s MGA Connect is built on Salesforce Financial Services Cloud, offering all the security and API enablement users expect from the tech giant. Built specifically for MGAs, MGA Connect provides the opportunity to build both simple and complex specialty insurance products on a single integrated platform. The result for MGAs is increased efficiency, the ability to scale and business growth.

For more information on Azur Technology’s platform built by MGAs for MGAs or to book a call or demo, click here.