A month in, the new Google-like database for specialist insurance lines in Canada has been making waves in the industry.
Insurr was launched at the end of October as a modern alternative to print directories, and brokers have been feeling the benefits of its intuitive, instant search facilities.
“Prior to Insurr, we were forced to visit each company’s website,” Roxanne McKenzie, president, JW Davis Insurance Brokers told
Insurance Business, describing the platform as a “fast, efficient method of determining which company would consider a quote.”
“The platform allows me to see which other MGA’s would be able to facilitate my clients’ needs,” she said, adding that based on Insurr searches, she has made note of a number of MGAs that she would consider working with because of their broad product availability.
Insurr searches over 1,600 specialist products in seconds and provides up to date application forms, term sheets and other materials
With easy access to information on markets for niche and emerging risks, users’ searches have been varied – the top three searches on Insurr so far have been for drones, cyber, and E&O, with specific searches for Airbnb insurance proving popular too.
And for some brokers, Insurr has introduced them to products that they had not realised were on offer.
Matthew Chiang, J.T. Insurance Services Canada, said that some of his Insurr searches had led to him finding out that existing contacts had offerings in lines that he had not even considered them to work in.
“It’s good if I’m looking for something a little harder to place and don’t know if a certain market would write it,” he said. “Insurr gives me more options, and it has given me markets that I wouldn’t ordinarily consider for a certain type of risk.”
As well as being updated more regularly than many other resources, the platform has quick links to everything which cuts out time wasted during the search process.
“It gives underwriter information and everything that I need in order to access the market and get a quote for our client,” Chiang said. “It’s a great resource tool.”
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