Clover puts full product suite on automated platform
Underwriting agency Clover Insurance’s full product range is now available through its OnePatch system, powered by London-based ChainThat’s Beyond Policy Administration (BPA) platform.
Sydney-based Clover progressively launched its business pack, home and landlord, and commercial and personal motor insurance products on OnePatch last year.
ChainThat CEO Vikas Acharya says his platform allows brokers to “embrace automated digital processes”, and its key advantage is its high configurability.
“Our platform enables Clover to manage product agility with end to-end policy servicing, integration with third-party data sources, and cash reconciliation,” Mr Acharya said.
Clover CEO Blair Nicholls says his insurtech automates underwriting to simplify placement for brokers, and BPA was the only platform that met all his requirements.
“BPA’s advanced technology strongly aligns with Clover’s goals of agility, efficiency and extensibility,” he said. “BPA is an API-driven platform that’s not just a tool but a catalyst for our broker partners to integrate seamlessly to service policies end to end.
“Our partnership with ChainThat ... is a commitment to continually innovate to deliver better products and a more efficient quoting experience for our brokers.”
Mr Nicholls says Clover’s system-driven underwriting and data pre-population optimises efficiency for brokers and their customers.
“We empower brokers to easily deliver rapid, accurate quotes. ChainThat’s BPA platform enables quick product rollout and its architectural flexibility allows straight-through processing for faster underwriting decisions.”
Clover, established in 2022, says a large number of brokers are already signed up to place business through OnePatch.
ChainThat will exhibit at the Underwriting Agencies Council Xceedance 2024 Sydney Underwriting Expo on Thursday.