RiskRadius Launches Insurance Appetite Search Engine

RiskRadius, a provider of tools to insurance carriers and insurance brokers, introduces a risk appetite search engine. The web-based application is designed to eliminate the time drain insurance brokers and agents face in finding the exact match for their client's needs.

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

“Throughout my 30 years in the industry, it's become clear that we all are faced with an unrelenting amount of obstacles, including the unsolicited, unproductive stream of email, alongside the bundle of costly, outdated carrier appetite brochures—putting a jam in the resource pool we all desire,” says Marilyn Quinlan, co-founder of RiskRadius. “Compelled to find a quicker, easier, and more economical way to provide the best option for broker clients, I brought together a team with a wealth of knowledge in the insurance sector to pave the way for the next generation of automating and optimizing the marketing process.”  

The result of this new online platform, according to Quinlan, is the time-saving element to both broker and carrier. The platform moves the dissemination of appetite from analog to the digital state of communication, and tackles the current inefficiencies both sides face on a daily basis. With RiskRadius, commercial lines property & casualty carriers can connect with brokers in a more streamlined and efficient manner. Using proprietary software on a secured platform, the RiskRadius tool allows insurance brokers to search the database of appetites to discover new solutions for their clients based on states where they are located, SIC, and line of coverage to perform target marketing.

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

“The reaction from brokers and carriers is overwhelmingly positive,” says Brendan Quinlan, co-founder, RiskRadius. “Efficiency was critical in the development of this product and after only six months in our beta phase, we are pleased that both groups have expressed that the platform is easy to use and the overall process has been a significant time saver.”