BOSTON, February 23, 2021 (GLOBE NEWSWIRE) – Ask Kodiak, an API platform that provides real-time appetite and eligibility for insurance companies, agents and brokers, and Coterie, the technology company that drives the purchase of insurance for small businesses simplified. are happy to announce a new partnership.
Based in Cincinnati, Ohio, Coterie specializes in commercial cover 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 and partnerships with other Insurtech solution providers, Coterie creates a more efficient insurance shopping experience for small businesses. This powerful new collaboration leverages the Ask Kodiak API to embed a classification search bar into agency partner’s existing workflows, making it even easier and more immediate for small business owners to get the right coverage right away.
“Classification and API integration are essential,” said Raymond Lynch, director of digital agent and broker distribution at Coterie. “Having a common framework for business descriptions makes everything so much easier from an integration standpoint. Prior to this partnership with Ask Kodiak, there was no standard code structure for integrations. This eliminates the previously typical assignment exercise and ensures that data can be properly transferred back and forth. “
Lynch, who joined Coterie in the fourth quarter of 2020 after several years in commercial insurance and sales for a national airline, knows the importance of being able to instantly include or exclude potential deals on a granularity never before possible. The Ask Kodiak High Definition Standard (NAICS HD) makes the more than 20,000 sub-descriptions under the national NAICS industry standard codes directly addressable to help determine insurers’ appetites and achieve greater underwriting profit. For greater semantic precision, Ask Kodiak uses text descriptions rather than numeric codes to map them to other legacy classification taxonomies.
“Proper classification drives everything,” said Allan Egbert, co-founder of Ask Kodiak. “Now Coterie can more easily control agent enrollments and quickly start integrations with any organization that works with independent agents, even if they don’t have a class description field in their solution. Essentially, creating a coterie quote for agents is now almost painless. “
The Ask Kodiak platform enables insurers to market commercial and specialty products to independent agents and brokers with a new level of effectiveness. The Ask Kodiak-Coterie partnership puts product recommendations, target classes, signatures and marketing information in the hands of Coterie agents faster than ever before.
About Ask Kodiak
Ask Kodiak helps insurance carriers organize commercial insurance. The API-based technology platform that enables agents to make product selections based on insurance carriers’ appetite and eligibility wherever necessary. For more information, see www.askkodiak.com.
About Coterie
Coterie uses modern technology to make it easier for small businesses to buy insurance. Entrepreneurs, freelancers and contractors deserve a simple insurance buying experience. Unfortunately, this process is usually overly complicated, expensive, and time consuming. Coterie integrates insurance into platforms and processes that companies already use and activates protection within minutes. Our technology-driven approach to corporate insurance is based on data-driven automation and provides accurate and affordable coverage – with no hassle. With Coterie, quick, easy and reliable coverage gets companies where they are, when they need it. It really is small business insurance, simplified. More information on integrating Coterie into your platform: coterieinsurance.com.
Media contact:
Jennifer Overhulse
St. Nick Media Services
(859) 803-6597
[email protected]
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