Transforming Executive Risk Coverage with Innovative Solutions
Millennial Shift Technologies Partners to Enhance Risk Coverage
Digital integration brings Zurich's modular management liability product to brokers nationwide through the leading platform for cyber and specialty-line submission and market access.
Millennial Shift Technologies (mShift) has announced an exciting collaboration with Cowbell and Zurich that allows for Zurich Select Plus executive risk products to be instantly available on the mShift Platform. By leveraging Cowbell's innovative underwriting technology, brokers can now quote and issue management liability protection for small and medium-sized enterprises (SMEs) rapidly, all through a single, streamlined workflow that enhances cyber submissions.
Zurich Select Plus provides brokers with four tailored coverage options — Private Management & Company Liability, Employment Practices & Third-Party Discrimination Liability, Fiduciary Liability, and Crime. These can be conveniently merged into a single policy to meet diverse client needs. The product utilizes a simplified, tech-driven underwriting process designed to expedite everything from the quoting to the policy issuance stage, backed by A.M. Best A+(Superior)/stable and Standard & Poor's AA/stable ratings.
"This partnership with Cowbell and Zurich moves us closer towards a smarter, interconnected insurance ecosystem," shared Mark Meury, CEO of Millennial Shift Technologies. “By incorporating Zurich Select Plus within the mShift Platform, we are not only streamlining transactions but also reshaping how executive-risk coverage is delivered and experienced in the marketplace."
Jeff Ritchie, Sr. Director of Digital Distribution at Cowbell, stressed the company's commitment to simplifying broker access to and binding of coverage. He stated, "This collaboration exemplifies our dedication, enabling the distribution of Zurich Select Plus through Cowbell's proprietary technology alongside the mShift Platform, facilitating a quicker, more streamlined process for brokers involved in executive-risk coverage for SMEs."
Benefits for Brokers in Leveraging New Technology
The integration of Zurich Select Plus into the mShift Platform provides significant advantages for brokers, enhancing their operational efficiency and client service quality. Here’s how:
Instant Appetite and Quoting
Brokers can retrieve real-time indications for Zurich Select Plus directly within mShift, supported by Cowbell's insightful risk assessments.
One Submission for Multiple Markets
With mShift, brokers can route a single digital application to several participating carriers while retaining their broker-of-record status, simplifying the submission process.
Complete Transparency
Brokers can monitor their submission’s progress, digitally bind policies, and maintain direct relationships with underwriters, which enhances communication clarity.
A Consistent User Experience
Utilizing the familiar user-friendly platform for cyber placements, brokers reduce both manual effort and the necessary training time.
About Millennial Shift Technologies
Millennial Shift Technologies (mShift) serves as the backbone for the modern insurance landscape, facilitating seamless submission, quoting, and digital placements across cyber and specialty insurance lines. The mShift Platform stands out as a leading digital interface for insurance transactions, connecting brokers, Managing General Agents (MGAs), and carriers with remarkable efficiency.
About Cowbell
Cowbell has emerged as a pioneer in Adaptive Cyber Insurance, seamlessly integrating Cyber, Tech Errors & Omissions (E&O), and Management Liability into one advanced, AI-driven platform. They cater to businesses with revenues up to $1B across the U.S. and U.K., providing swift policy issuance, ongoing risk evaluations, and access to expert resiliency services.
About Zurich North America
Zurich North America is part of Zurich Insurance Group, a well-established multi-line insurance provider. Their executive-risk solutions are reinforced by strong ratings from A.M. Best and Standard & Poor's, ensuring high-quality coverage for clients.
Frequently Asked Questions
What is the benefit of the collaboration between mShift, Cowbell, and Zurich?
The partnership enhances access to Zurich Select Plus executive-risk products for brokers, streamlining the quoting and policy issuance process for SMEs.
How quickly can brokers access Zurich Select Plus?
Brokers can quote and issue coverage instantly on the mShift Platform, ensuring a rapid response to client needs.
What types of coverage does Zurich Select Plus offer?
Zurich Select Plus offers four modular coverage options that can be tailored to client specifications, covering important areas like company liability and employment practices.
How does the mShift Platform enhance broker operations?
The platform boosts operational efficiency by allowing one submission for multiple markets, transparent tracking of applications, and a familiar user interface.
What are Cowbell's contributions to the partnership?
Cowbell provides the technology-enabled underwriting platform that facilitates quick assessments and helps brokers simplify the binding process for executive-risk coverage.
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