Cogitate Launches Cyber Liability Solution Within Flagship Digital Edge Platform

Posted by insurance software companies on November 11th, 2021

Wholesalers, MGAs, Agents, and Carriers can now use a powerful omni-channel insurance ecosystem to integrate multiple channels, partners, 3rd party data services, and a sleek User Interface (UI) to rate, quote, bind, issue, and post-sale service Cyber Liability within the Digital Edge Platform.

Cogitate has launched a Cyber Liability rate, quote, bind, issue, and post-sale service (endorsements, cancelations, reinstatements, renewals, etc.) within its next-gen digital insurance flagship solution, Digital Edge.

With this innovation, users get a well-structured and organized dashboard that gives agents and underwriters a visual representation of pending tasks, a historical timeline of policies bound, ongoing actions within live policies, and simple navigation. The solution provides agency and underwriting mapping in complex policy conditions where experienced underwriting is needed. Pre-configured with Verisk’s ISO rates, rules, and forms, and integrated with multiple 3rd party risk information providers, the application auto-populates and pre-fills Cyber liability data in seconds which maps to the business, saving several minutes within an hour for agents. The application is integrated with Cogitate’s powerful comparative rating engine giving multiple premium options based on multiple carriers’ rates, including ISO rates.

The Cyber Liability application provides real time updates on changes and requests to a policy with the use of push notifications and email and portal alerts. These alerts are provided to underwriters on potential risk factors in a policy so that corrective actions can be immediately taken by changing coverages or manually adjusting premium amounts (based on the underwriter). The application is agnostic in that it integrates with management systems and document management systems across the board (solution is pre-integrated with Vertafore’s AIM and Image Right). Based on business revenue, the application smartly customizes the Cyber Liability underwriting and security questionnaire, while also customizing coverages for businesses with high annual revenue. As with all solutions in Cogitate’s Digital Edge platform, Cyber Liability quickly integrates with existing SSO, LDAP, or any authentication scheme used for security and privacy, allowing for one fast and efficient login.

Arvind Kaushal and Jacque Schaendorf, Co-Founders of Cogitate, explain, “Our digital platform empowers users in the insurance value chain with modern, future-ready technology that improves distribution with on-demand access and insight to grow their business. While Builder’s Risk and Commercial Auto already exist in our Digital Edge Platform, Cyber Liability is a huge step for our users to start their digital journey into Commercial and Niche Lines of business. Next to be added to our digital platform is General Liability, followed by Commercial Property, and then Commercial Package.”

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