SANTA BARBARA, Calif., June 29, 2021 (GLOBE NEWSWIRE) – Commercial insurance can be very complex, however industry newcomer LIO Insurance (LIO) is changing that. LIO is an underwriting company whose mission is to make the process of selecting and purchasing specialized insurance policies faster, easier and more intuitive. Recently, LIO brought ClarionDoor, the provider of the smartest insurance product distribution software, online.
Commercial insurance, especially general liability and property, has been known to take days or weeks to obtain a policy, primarily due to manual underwriting processes. LIO is powered by cutting-edge technology and harnesses the power of data to reduce the quote-to-policy lifecycle and improve the customer experience.
âOne of the reasons we launched LIO is because we recognized the significant challenges and latency in the commercial insurance market,â said Jim Tygh, Chief Actuary and Chief Risk Officer at LIO. âBusiness owners need an insurance service that meets their needs, offers a simpler platform for purchasing and managing coverage, and requires modern insurance technology, like ClarionDoor . Their API native and cloud native assessment software allows us to have full control over our commercial products, leverage ISO standards, use APIs transparently, and process quotes faster.
ClarionDoor’s CD evaluation is a flexible, powerful and proven scoring engine that enables insurers like LIO to create competitive products, seamlessly launch products and distribute products across all channels. Built on an API-first architecture and hosted exclusively on Amazon Web Services (AWS), CD Rating provides the power you need with automatic scaling, automatic performance tuning, and complete control of rating products in the hands of the company.
âIt’s great to see LIO enter the commercial insurance market and we are delighted that they are now live,â said Pat McCall, Sales Manager at ClarionDoor. âCommercial Liability and Property are in desperate need of innovative solutions that can deliver experiences similar to personal insurance, and we believe LIO is a pioneer in this area. “
ClarionDoor’s proven track record is built on the absence of failed projects, lead times far exceeding industry standards, and 100% referenced customers.
LIO Insurance Company is a specialized property and casualty insurance company. Our state-of-the-art digital portal makes it easy for brokers to locate, purchase and manage specialty insurance policies. The multi-week waiting periods and stacks of documents are officially obsolete. At LIO, we make insurance simple! For more information, please visit lioinsurance.com.
ClarionDoor is the smartest insurance product distribution software provider for rating, quotation and issuance with a multitude of clients living in the United States, Australia, New Zealand and the United Kingdom today. -United. Our innovative API-based, cloud-native technology enables MGAs, brokers, carriers, program administrators and wholesalers to rate, quote and issue for any industry; bring them to life in a few weeks and free them up to focus on innovation, not implementation. To learn more, visit www.clariondoor.com or contact us at [email protected].