US-based underwriting technology provider Insurance Quantified has announced that its underwriting workbench, SubmissionIQ, has been chosen by First Light Program Managers to streamline its underwriting workflow.
First Light is a managing general agency (MGA) that provides specialty insurance products to its customers in transportation, trucking and marine sectors.
The deployment of Insurance Quantified’s SubmissionIQ technology will help First Light to convert masses of submission documents into completed and actionable data, which can be routed to relevant underwriter’s desk.
This technology will help the MGA to streamline operations, improve its accuracy and speed-to-quote capabilities, while unlocking various new avenues for the growth of its business.
First Light CEO Anthony Johnson said: “At First Light, we have dedicated ourselves to serving the trucking and marine niches.
“SubmissionIQ will power underwriting with the right data at the right time, ensuring we never miss opportunities and accelerating our ability to deliver unparalleled value, underwriting expertise and precision to our clients.”
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Insurance Quantified said that the latest signing with First Light comes coinciding with its “exceptional” growth and expansion efforts.
Along the same lines, the underwriting technology company announced the acquisition of ingestion and data solutions providing company Groundspeed Analytics earlier in June.
Groundspeed Analytics, which mainly serves in the commercial property and casualty (P&C) industry, will help Insurance Quantified to strengthen its position in the underwriting technology sector.
Insurance Quantified Sales & Relationship Management head John Paladino said: “First Light is a fast-growing MGA with a strong specialty reputation.
“We are excited to help accelerate that growth with SubmissionIQ and provide the underwriting team with the tools they need to get out of the weeds of data entry and focus even more energy on their expert underwriting.”