Berkley Insurance Australia has unveiled its new bindIT portal, an automated, digital platform that simplifies and accelerates the process of applying for a quote and binding a policy. It allows brokers to handle each client’s transactions and to arrange their client’s quote options to their own liking. Berkley starts the use of the platform with IT Liability insurance. bindIT features a secure link that allows clients to enter their own details and send to the broker for review. If the broker is happy with the information, it can be submitted to bindIT at the click of a button. By having the client enter the information themselves, there is less room for error and no double-entry.
In 30 seconds, brokers can obtain a tentative “Quick Quote” which they can advise their client of either in person or on the phone. If they wish to proceed, then the full process of getting a quote, downloading documents and binding to the policy takes less than a few minutes. Through this portal, the broker can choose up to three different policy options for their clients that are customizable. Brokers also have the additional benefit of being able to adjust the commission or fee they will charge for their services. A key feature of bindIT is the backup support that allows dealings with the underwriter. BindIT came about as a response to the slow and outdated manual approach that brokers have always taken to get a quote on behalf of their clients.