EMPLOYERS, an American small business insurance specialist, to automate appetite communications to agency partners through new deal with IVANS.
As part of the deal, EMPLOYERS will further augment agency communications to over 32,000 agencies in the IVANS Network.
IVANS Market gives insurers and MGAs applications to connect current and prospective agencies with new business opportunities or appetite. The digital channel helps to reduce manual processes and supports an average of five million recommendations every month.
IVANS vice president Brian Wood said, “As the IVANS insurance landscape becomes more competitive, we see more insurers satisfying agent demand by becoming fully digital in how they interact with agencies.
“The adoption of IVANS Markets further demonstrates EMPLOYERS’ commitment to the agency channel, automating both distribution and servicing so that they can support the growth of their agency partners.”
Funding in the InsurTech sector has increased year-on-year since 2016. Between 2016 and 2018, the amount of capital deployed into the sector globally has more than doubled to reach $3.4bn. The first three quarters of 2019 have shown appetite is still rising. During this period $3.7bn was raised by 215 funding rounds.
Between 2014 and 2019, investment has increased at a CAGR of 49.2%.
