SANTA BARBARA, Calif., June 29, 2021 (GLOBE NEWSWIRE) — Commercial insurance can be very complex, however, industry newcomer LIO Insurance (LIO) is changing that. LIO is an underwriting company on a mission to make the process of selecting and purchasing specialized insurance policies faster, easier, and more intuitive. Recently, LIO went live with ClarionDoor, provider of the most intelligent insurance product distribution software.
Commercial insurance, especially general liability and property, is notorious for taking days or weeks to get a policy, mostly due to manual underwriting processes. LIO is leveraging cutting-edge technology and tapping into the power of data to reduce the quote-to-policy lifecycle and improve the customer experience.
“One of the reasons we started LIO was that we recognized the significant challenges and latency in the commercial insurance market,” said Jim Tygh, chief actuary and risk officer at LIO. “Business owners need an insurance service that meets their needs, provides an easier platform for purchasing and managing coverages, and that requires modern insurance technology, like ClarionDoor. Their API-first, cloud-native rating software enables us to have complete control of our commercial products, leverage ISO standards, consume APIs seamlessly, and process quotes faster.”
ClarionDoor’s CD Rating software is a flexible, powerful, and proven rating engine that empowers insurers, like LIO, to create competitive products, launch products seamlessly, and distribute products across all channels. Built on an API-first architecture and hosted exclusively on Amazon Web Services (AWS), CD Rating provides the needed power with auto-scaling, auto-performance tuning, and complete control of rating products in the hands of the business.
“It is great to see LIO enter the commercial insurance market and we are thrilled that they are now live,” said Pat McCall, chief sales officer at ClarionDoor. “Commercial general liability and property are in desperate need of innovative solutions that can offer similar experiences to that of personal lines, and we believe LIO is a trailblazer in this area.”
ClarionDoor’s proven track record is backed by zero failed projects, implementation times that far exceed the industry norms, and 100 percent referenceable clients.
About LIO
LIO Insurance Company is a niche P&C insurance carrier. Our state-of-the-art digital portal allows brokers to easily locate, purchase, and manage specialized insurance policies. Weeks-long waiting periods and stacks of paperwork are officially obsolete. At LIO, we make insurance simple! For more information, please visit lioinsurance.com.
About ClarionDoor
ClarionDoor is the provider of the most intelligent insurance product distribution software for rating, quoting, and issuance with a multitude of customers live today across the United States, Australia, New Zealand, and the United Kingdom. Our breakthrough API-first, cloud-native technology enables MGAs, brokers, carriers, program administrators, and wholesalers to rate, quote, and issue for any line of business; getting them live in weeks, and liberating them to focus on innovation, not implementation. To learn more, visit www.clariondoor.com or contact us at info@clariondoor.com.