BOSTON, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Ask Kodiak, an API platform providing real-time appetite and eligibility for commercial lines insurance companies, agents, and brokers, and Coterie, the technology company that simplifies buying small business insurance, are pleased to announce a new partnership.
Cincinnati, Ohio-based Coterie specializes in commercial coverages for small businesses. Coterie is a licensed insurance producer in all 50 states and is backed by A-rated licensed insurers and reinsurers. Through its proprietary technology, as well as partnerships with other insurtech solution providers, Coterie creates a more efficient small business insurance purchasing experience. This powerful new collaboration utilizes the Ask Kodiak API to embed a classification search bar within agency partners’ existing workflows, making it even easier for small business owners to get the right coverage, instantly.
“Classification and API integration are foundational,” said Raymond Lynch, director of digital agent and broker distribution for Coterie. “A common framework for business descriptions makes everything so much easier from an integration standpoint. Before this partnership with Ask Kodiak, there was no standard code structure for integrations. This eliminates the mapping exercise that was previously typical and ensures data can pass back and forth as it should.”
Lynch, who joined Coterie in Q4 2020 after several years in commercial insurance operations and distribution for a national carrier, understands the importance of being able to instantly include or exclude potential business at a level of granularity that was never possible before. The Ask Kodiak High-Definition standard (NAICS HD) makes the more than 20,000 sub-descriptions beneath the NAICS national industry-standard codes directly addressable for determining insurer appetite and driving greater underwriting profit. And, for greater semantic precision Ask Kodiak utilizes text descriptions, not numeric codes, for mapping to other legacy classification taxonomies.
“Getting classification right drives everything,” said Allan Egbert, co-founder of Ask Kodiak. “Now, Coterie can more easily drive agent sign-ups and rapidly launch integrations with any organization working with independent agent and even if they don't have the class description field in their solution. Essentially, generating a Coterie quote will now become almost effortless for agents.”
The Ask Kodiak Platform allows insurers to market commercial and specialty products to independent agents and brokers with a new level of effectiveness. The Ask Kodiak-Coterie partnership will put real-time product recommendations, target classes, underwriting eligibility, and marketing information in the hands of Coterie’s agents faster than ever before.
About Ask Kodiak
Ask Kodiak helps insurance carriers organize commercial insurance. The API-based technology platform that helps agents make product selections based on appetite and eligibility provided by insurance carriers wherever it’s needed. For more details, visit www.askkodiak.com.
Coterie uses modern technology to make buying small business insurance easy. Business owners, freelancers & contractors deserve an easy insurance purchasing experience. Unfortunately, this process is typically overcomplicated, expensive, and time-consuming. Coterie integrates insurance into platforms and processes that businesses already use, unlocking protection in minutes. Our tech-based approach to business insurance uses data-driven automation, providing accurate, affordable coverage – without the hassle. With Coterie, fast, easy, and reliable coverage reaches businesses where they are, when they need it. It’s truly small business insurance, simplified. Learn more about integrating Coterie with your platform: coterieinsurance.com.
St. Nick Media Services