Turris, a provider of compliance and payment automation solutions for the insurance sector, has partnered with Loro Insurtech to deliver a unified solution aimed at modernising how insurers and MGAs handle compliance and broker onboarding.
The goal of the partnership is to speed up the onboarding process for broker and agent partners, simplify policy quoting and binding workflows, and fully automate compliance checks and regulatory filings.
This collaboration is geared towards improving operational efficiency while reducing compliance risk and administrative burden.
Turris delivers technology that automates back-office operations, including real-time license verification and regulatory reporting.
Its tools are tailored to help insurers and MGAs ensure compliance and payment accuracy, particularly in complex policy environments. Meanwhile, Loro Insurtech offers a digital platform that enables seamless insurance policy transactions, supporting MGAs, carriers, and agents in managing digital quote-to-bind processes.
The joint solution is now available to customers of both companies. Implementation support is being offered to ensure a smooth deployment.
Turris and Loro aim to empower clients with faster access to market and real-time compliance automation, a key differentiator in a highly regulated and competitive industry.
A notable functionality already benefiting customers includes the automation of excess and surplus (E&S) policy stamping, which relies on real-time sharing of state-specific agent licensing data. This not only enhances regulatory compliance but also saves time and operational cost.
Both companies envision a future where insurance professionals focus on growing their businesses and customer relationships, with back-end compliance and financial operations running automatically in the background.
Loro CEO and co-founder Peter Tilbrook said, “The Loro partnership with Turris showcases two key things modern MGAs and insurers should be aspiring to achieve: speed to market and real-time, painless compliance. By integrating with Turris’s operations automation platform, we’re adding a critical layer of verification that protects our clients while streamlining back-office operations.”
Turris CEO and co-founder Douglas Ver Mulm said, “Our partnership with Loro represents a significant leap forward in partner onboarding and compliance automation. Real-time license verification for every policy sold is eliminating compliance risks and driving down operational costs.”
He added, “The solution is already solving additional challenges for joint clients, including E&S policy stamping by automatically sharing state-specific agent licensing data.”
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