Millennial Shift Partners with HSB for Cyber Insurance Innovations
Millennial Shift Technologies Partners with HSB
In an exciting move for the insurance industry, Millennial Shift Technologies has announced a collaboration with HSB, part of Munich Re. This partnership enables the availability of HSB TotalCyber™ within the mShift Platform, taking significant strides towards modernizing cyber insurance submissions and market access.
Transforming Cyber Insurance Accessibility
The integration of HSB TotalCyber™ into the mShift Platform transforms traditional workflows by providing brokers with straightforward access to cutting-edge cyber coverage. Now brokers can easily tap into HSB's comprehensive solution designed specifically for small to medium-sized enterprises. The HSB TotalCyber™ product not only covers first and third-party risks but also comes with essential risk-management tools and breach-response services.
The Benefits for Brokers and Agents
Enhanced Digital Access
HSB TotalCyber™ on the mShift Platform offers several advantages for brokers and agents. Among the most notable is the direct digital access to leading cyber carriers without leaving the mShift workflow. This means agents can maintain their relationships with underwriters while simplifying their processes.
Streamlined Operations
The platform is designed to eliminate manual data entry, allowing users to upload applications only once. This innovation showcases the commitment of both Millennial Shift Technologies and HSB towards efficiency. Moreover, agents can monitor the status of their clients' applications in real time, which minimizes the need for follow-up emails and inquiries.
Faster Processing Times
The partnership promises quicker processing times. Requests are generally processed within 24–48 hours, enhancing the capacity for brokers to submit, requote, and bind policies swiftly. This addition is especially beneficial for the brokers looking to expedite their service to clients.
Vision for the Future
The vision behind this collaboration extends beyond immediate benefits. According to Mark Meury, CEO of Millennial Shift Technologies, this partnership represents a step towards creating a smarter, more connected insurance ecosystem. By incorporating HSB TotalCyber onto the mShift Platform, the aim is to redefine how cyber insurance is accessed, delivered, and experienced throughout the market.
About Millennial Shift Technologies
Millennial Shift Technologies, often referred to as mShift, acts as an essential infrastructure layer in today’s rapidly evolving insurance landscape. It empowers the entire cycle from submission to quoting and digital placements across both cyber and specialty lines. Brokers, managing general agents (MGAs), and carriers benefit from the platform's ability to connect risk to coverage seamlessly and with great precision.
About HSB
HSB stands tall as a prominent multi-line specialty insurer and a leading provider of cyber insurance, particularly for small businesses. Backed by Munich Re, HSB integrates insurance with engineering services and technology innovations to manage risk effectively and support clients in recovering promptly from incidents. Their robust history showcases an unwavering commitment to helping clients minimize losses and harness new opportunities presented by technological advancements.
Frequently Asked Questions
What is the purpose of the partnership between mShift and HSB?
The collaboration aims to integrate HSB TotalCyber™ into the mShift Platform, providing brokers access to advanced cyber insurance solutions.
What benefits does the mShift Platform offer to brokers?
Brokers gain direct market access, reduced manual data entry, real-time application tracking, and faster processing times, enhancing their efficiency.
Why is HSB TotalCyber™ important for small businesses?
This cyber insurance product offers crucial first and third-party coverages along with risk-management tools that are tailored for small and medium-sized enterprises.
How does the mShift Platform improve the insurance transaction process?
By enabling a single submission workflow, the platform eliminates manual data re-entry, allowing for quicker transactions and reduced administrative tasks.
What core values drive both Millennial Shift and HSB?
Both companies emphasize innovation, efficiency, and a strong commitment to providing valuable, accessible solutions tailored to evolving client needs.
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