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Insurtech firm Positive has unveiled Wherever, a platform geared toward modernising the method by way of which insurance coverage programmes are launched.
Wherever seeks to free the trade from the constraints of conventional RSOs and outdated insurance coverage product filings, which Positive claims don’t meet the trendy wants of carriers, managing normal brokers (MGAs) and types.
The platform presents a set of insurance coverage programmes tailor-made for carriers, MGAs and international manufacturers, that includes customisable, market-ready merchandise.
Wherever is powered by Positive’s SaaS know-how and APIs, geared toward facilitating a swift launch of latest insurance coverage programmes.
Positive’s Wherever goals to unravel the challenges related to rating-as-a-service, equivalent to fixed upkeep, complicated documentation, and the excessive prices and time delays usually related to system integrators.
Pre-configured merchandise, varieties, endorsements, charges, guidelines and actuarial companies for compliance and filings are a part of the turnkey resolution that Wherever offers.
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Along with simplifying the launch course of, Wherever incorporates generative synthetic intelligence to reinforce insurance coverage experiences for shoppers.
Positive co-founder and CEO Wayne Slavin mentioned: “For too lengthy, legacy price service organisations have had a stranglehold on the insurance coverage trade. They’ve managed the plumbing and pricing, creating difficult and pointless limitations to launch trendy insurance coverage programmes.
“Wherever is reinventing how insurance coverage programmes are constructed and launched within the digital age. We’re fixing the basic challenges within the insurance coverage trade with a brand new turnkey, technology-driven method that dramatically reduces time to market, minimises launch and working prices, and revolutionises the client expertise.”
Based in 2015, Positive secured $100m in a Collection C funding spherical in October 2021.
The funding spherical was led by Declaration Companions and Kinnevik, with contributions from WndrCo, FTAC Ventures, Increasing Capital, WR Berkley Company and Menlo Ventures.
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