Millennial Shift Technologies offers a platform that enables brokers to quote, bind, and issue multiple lines of professional liability insurance through a single point of entry, utilizing broker intelligence for streamlined workflows. The solution addresses inefficiencies in the insurance process by providing multiple bindable quotes per submission, enhancing the speed and accuracy of policy issuance.
Funding
Funding not disclosed
Founders
Product
Problem
Insurance brokers face inefficiencies in quoting, binding, and issuing professional liability policies across multiple carriers. The traditional process often involves navigating disparate systems, manual data entry, and a lack of real-time comparative data, leading to delays and increased operational costs.
Solution
Millennial Shift Technologies provides a unified platform designed to streamline the professional liability insurance lifecycle for brokers. The platform offers a single point of entry to quote, bind, and issue policies from multiple 'A' rated or above carriers. By leveraging broker intelligence and integrating with various carrier systems, the solution delivers multiple bindable quotes per submission, accelerating policy issuance and improving accuracy. The platform supports various lines of business within the professional liability space, including cyber, EPLI, tech E&O, and MPL, catering to both management and non-management liability needs, as well as admitted and non-admitted products.
Target Audience
The primary target audience includes insurance brokers specializing in professional liability, seeking to improve efficiency and accuracy in their quoting and binding processes.
Features
- Single point of entry for quoting, binding, and issuing multiple lines of professional liability insurance.
- Integration with 'A' rated or above insurance carriers.
- Supports broker's existing forms and endorsements.
- Streamlined workflow designed to improve efficiency.
- Provides multiple bindable quotes per submission.