CFC launches automated portfolio quoting for UK brokers

Specialist insurance provider CFC has introduced a new automated portfolio quoting service aimed at streamlining the cyber insurance quoting process for UK brokers.

The service, designed to handle bulk quotes across an entire book of business, seeks to reduce administrative workload while enabling brokers to focus on client engagement and business development.

The service allows brokers to submit client information in bulk, after which CFC’s system automatically generates quotes for all eligible clients.

Brokers can then review and bind policies as needed. Initially to be made available for cyber products, the company sees the new tool as a way to improve efficiency in the quoting process.

Pat Brice, distribution director at CFC, said: “Sending individual submissions on thousands of accounts takes an enormous amount of resource from time-stretched brokers.

“Our new portfolio quoting service will not only free this time up for them to spend on more valuable complex client demands and relationship building, but also help them cross-sell different products across their entire portfolio.

”We can even assist in porting master policies over to individual insured policies.”

Growth potential

Beyond its reported efficiency benefits, CFC believes the portfolio quoting service presents a growth opportunity for brokers.

By streamlining policy issuance, brokers may have greater capacity to explore cross-selling opportunities and introduce additional coverage options to clients.

The firm said the three-step process – submitting client data, receiving automated quotes and finalising policy issuance – eliminates much of the manual input traditionally associated with underwriting multiple policies. 

Brice addd: “Our portfolio quoting service isn’t just about eliminating manual data input and tedious applications forms. It can open the door to significant growth opportunities within existing books of business, delivering valuable new income streams for UK brokers.”