COLUMBUS, Ohio and JERSEY CITY, N.J., Jan. 25, 2023 (GLOBE NEWSWIRE) — Branch is delivering quick, easy transactions for shoppers that enhance the shopper expertise and elevate conversion charges by integrating granular dependable information on family danger from Verisk (Nasdaq: VRSK), a number one international information analytics supplier.
Department, a private traces insurer now working coast to coast with an increasing footprint of 36 states, has introduced information ahead within the quote workflow. With Verisk’s LightSpeed® for Personal Lines platform as a part of its tech-stack, Department delivers dependable, bundled auto and householders quotes in seconds, requiring solely a reputation and handle. Department’s technique embraces a brand new financial mannequin, supporting worthwhile progress and optimized workflows.
“Verisk is forward of the curve in providing information to its insurer prospects in novel ways in which permit us to generate new worth for the insurance coverage client. By embedding high-quality danger information deeply inside our underwriting, we will ship on the imaginative and prescient of a greater expertise for the fashionable insurance coverage purchaser,” stated Steve Lekas, Department’s co-founder and chief government officer. “A proof of that idea has been what Department has been in a position to ship to residence mortgage suppliers. With the assistance of Verisk’s InsurTech platform, we will embed a bindable, bundled residence and auto insurance coverage quote throughout the mortgage funnel, enabling added income for the mortgage supplier, a dramatically higher buyer expertise, and sustainable progress for Department.”
Department licenses an array of present and historic danger and loss information accessible by Verisk’s LightSpeed platform for real-time, once-and-done quoting. By gathering such information and never asking for it from their shoppers, Department accelerates insurance coverage purchases and retains client prices down.
“The Verisk digital ecosystem helps companies that attempt for higher buyer experiences and worthwhile progress by pace, simplicity, accuracy and improved conversion charges,” stated Doug Caccese, president, danger evaluation, underwriting options, at Verisk. “We’ve collaborated round a growth-based mannequin constructed on a easy guideline for our buyer relationships: To assist insurers present the very best service to shoppers.”
To be taught extra about how Verisk’s extremely scalable options will help drive digital transformation in private traces insurance coverage, discover LightSpeed for Personal Lines.
About Verisk
Verisk (Nasdaq: VRSK) gives data-driven analytic insights and options for the insurance coverage and power industries. By superior information analytics, software program, scientific analysis and deep trade data, Verisk empowers prospects to strengthen working effectivity, enhance underwriting and claims outcomes, fight fraud, and make knowledgeable selections about international points together with local weather change and excessive occasions in addition to political and ESG subjects. With places of work in additional than 30 international locations, Verisk persistently earns certification by Great Place to Work and fosters an inclusive culture the place all workforce members really feel they belong. For extra, go to Verisk.com and the Verisk Newsroom.
About Department
Department is residence and auto insurance coverage that’s easy to purchase and constructed for financial savings. By its revolutionary instant-bind functionality, Department removes the entire friction related to getting coated, serving to shoppers bundle their residence and auto insurance coverage with ease. Constructed as a reciprocal trade, the Department Insurance coverage Trade faucets into the ability of group to make insurance coverage extra accessible and inexpensive for everybody. Department is a Public Profit Company and Licensed B Company dedicated to assembly excessive requirements of social and environmental efficiency, and accountability.
Department was launched in 2019 by insurance coverage veteran Steve Lekas and tech entrepreneur Joe Emison, and is headquartered in Columbus, Ohio. Department is underwritten by the Department Insurance coverage Trade, Everspan Insurance coverage Firm, and Common Safety Nationwide Insurance coverage Firm (GSNIC). To be taught extra, go to Branch.com
