Economical Insurance announced May 31 that it is extending its Vyne platform for use by brokers who are selling property and casualty insurance policies to small and medium sized businesses.
The new digital platform, Vyne Commercial, built and powered by software service provider Acturis Group, is designed to simplify the process for insuring small business, the company said in a statement announcing the service expansion.
Initially launched in 2018 for personal lines and individually rated commercial auto insurance, Vyne Commercial is designed to allow brokers to instantly quote and bind new property and casualty policies for small and medium enterprises. Economical says it will work with brokers in the coming months to roll Vyne Commercial out in phases. (Presently Acturis is already established in Europe, providing real-time quote, bind and change capabilities across a range of commercial business classes.)
“We are committed to making it easier for brokers to do business with us,” says Economical vice president of commercial underwriting and specialty lines, Obaid Rahman. “The introduction of Vyne Commercial will mark an important step in achieving this goal.”