Searching risk appetite by line of insurance, industry

RiskRadius has introduced what it calls the industry’s first dynamic risk appetite search engine to help insurance brokers and agents find the best match for their clients’ needs.

Using proprietary software on a secured platform, brokers can search the dynamic databases of appetites to discover new client solutions based on states where they are located, standard industrial classification (SIC) and line of coverage to perform target marketing, notes a statement from the company.

Carriers can also market specifically to geographic areas and industries. “They now 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,” RiskRadius reports.

“After only six months in our beta phase, we are pleased that both groups [brokers and carriers] have expressed that the platform is easy to use and the overall process has been a significant time-saver,” adds Brendan Quinlan, co-founder of RiskRadius.