For years, many in our industry believed that the Management Liability product lines — Directors & Officers (D&O), Employment Practices Liability (EPLI), Crime, Fiduciary, and Kidnap & Ransom (K&R) — would forever resist efforts to automate the underwriting process. Today, we’re excited to announce that Management Liability is finally available in Herald’s API thanks to these carriers leading the charge towards innovation in the space: Arch Insurance Group, Inc. Coalition, Counterpart, and Navigators, a brand of The Hartford.
With the addition of Management Liability, Herald’s API now provides brokers and their software development teams the ability to quote products across 8 lines of business. For Management Liability, brokers can now digitally submit and receive quotes for businesses and not-for-profit organizations. As the fastest-growing API infrastructure in commercial insurance, Herald will quickly add additional Management Liability products as they become available.
“We’re proud of our innovations in digitizing our Management Liability product suite and are excited to partner with Herald to create a frictionless placement for our broker partners. The most sophisticated brokerages are investing in API connectivity with Arch. Herald helps us meet our brokers where they are by accelerating API integrations with our key partners and efficiently managing that ecosystem of connections over time.”
- Drew Desmarais, VP, Executive Assurance Digital Partnerships
In contrast to lines of business that have been available via API for several years, such as General Liability or Workers’ Compensation, Management Liability has traditionally relied upon manual underwriting due to its complexity and risk. Herald is the first infrastructure provider to unify a collection of Management Liability products through a single API infrastructure offering.
“Automation of Management Liability has been an elusive dream for specialty Retail and Wholesale brokers. Expanding our unified API infrastructure’s capabilities to include Management Liability enables large brokerages and technology companies to turn that dream into a reality. We are excited to continue working with the most innovative carriers in the world to push the boundaries of what is digitally possible.”
- Duncan Crystal, Herald Co-Founder and CRO
About Herald
If you’re a carrier who is interested in digitizing your Management Liability solution (or any product for that matter) or a broker who is interested in automation of the placement process, feel free to email us at hello@heraldapi.com.
If you’re interested in learning more about Herald overall please visit our website, follow us on Twitter and LinkedIn, or sign up for our changelog.