Underwriters can align price-to-risk and provide adequate coverage based on risk factors and threat scenarios that can affect the assessed business. Additionally with the provided insight, underwriters can decide which portions of a policy they would like to include per customer.
Time to Deliver a Quote
Studies show that the electronic quote-to-bind ratio drops significantly if insurers wait 24 hours to respond. Kovrr helps insurers provide faster quotes to their customers to increase quote-to-bind ratios by shortening the questionnaire process and validating all security control questions.
Adjusting Price to Evolving Risk
Insurers can make educated pricing decisions based on high-powered, targeted data to pinpoint profitable policies. With continuous monitoring of their end clients cyber posture, insurers can offer adaptive policies and pricing based on the evolving risk of a business.