RiskRadius, a provider of tools to insurance carriers andinsurance brokers, introduces a risk appetite search engine. Theweb-based application is designed to eliminate the time draininsurance brokers and agents face in finding the exact match fortheir client's needs.

 Additionally, this platform provides tools toinsurance carriers that include the ability for carriers to uploadtheir appetites and control them by state, line of insurance andStandard Industrial Classification (SIC) in real time. 

"Throughout my 30 years in the industry, it's become clear thatwe all are faced with an unrelenting amount of obstacles, includingthe unsolicited, unproductive stream of email, alongside the bundleof costly, outdated carrier appetite brochures—putting a jam in theresource pool we all desire," says Marilyn Quinlan, co-founder ofRiskRadius. "Compelled to find a quicker, easier, and moreeconomical way to provide the best option for broker clients, Ibrought together a team with a wealth of knowledge in the insurancesector to pave the way for the next generation of automating andoptimizing the marketing process."  

The result of this new online platform, according to Quinlan, isthe time-saving element to both broker and carrier. The platformmoves the dissemination of appetite from analog to the digitalstate of communication, and tackles the current inefficiencies bothsides face on a daily basis. With RiskRadius, commercial linesproperty & casualty carriers can connect with brokers in a morestreamlined and efficient manner. Using proprietary software on asecured platform, the RiskRadius tool allows insurance brokers tosearch the database of appetites to discover new solutions fortheir clients based on states where they are located, SIC, and lineof coverage to perform target marketing.

Carriers can also market specifically to geographic areas andindustries. They have the capability to track and analyze thegreatest number of searches by state, SIC or line of coverage andthe number of times their company appears in any given search. Itwill also show the carrier the specific broker who was searchingfor their appetite so they can immediately contact that individual. 

"The reaction from brokers and carriers is overwhelminglypositive," says Brendan Quinlan, co-founder, RiskRadius."Efficiency was critical in the development of this product andafter only six months in our beta phase, we are pleased that bothgroups have expressed that the platform is easy to use and theoverall process has been a significant time saver."