Covernet recently was awarded the highest 5-star status as an Insurance Technology Provider. We were recognised amongst 12 other Technology Providers across the UK in the Insurance Business UK 5-Star Insurance Technology Provider awards.
The awards are focused on delivering market-leading solutions which are put to practical use to address industry needs. This is based on feedback from users conducted by Insurance Business UK. This feedback and findings were gathered during one-on-one interviews with brokers and those within IBUK’s network. The information gathered by the research team revealed what’s important to insurance professionals when selecting a technology provider to work with.
Technology providers were asked to nominate their solutions, explaining why they stood out against their competitors and what made them the best in the market. IBUK then asked brokers to rate their overall satisfaction with the insurtech providers based on criteria such as their products’ ease of use, customer support, value for money and overall effectiveness.
The companies that received a score of at least 80% were named 5-Star Insurance Technology Providers in recognition of their excellent service and performance.
Our award-winning product ISMIS is a fully hosted, web-based platform which can be deployed as an ‘Out-of-the-box’ solution to provide everything an MGA might need; or it is equally powerful when individual modules of the framework are deployed within an existing infrastructure to bring innovation and digital efficiency.
ISMIS enables users to sell and manage their products through our market-leading broker portals, or via our API through aggregators, comparative broker platforms or direct to the end customer.
“If you were setting up an MGA, it would be everything you needed to distribute and administer your business," says Jim Campbell, business development director at Covernet. "There are modules for pretty much everything in the insurance journey including a complete claims management module, which is also used by claims management companies as a standalone product. What’s probably our biggest selling point is that it’s very much a framework that can be adapted and changed with clients’ needs. So, if they only want to pick up certain areas within the framework, we can plug those in for them, and we can plug them in to work with their existing infrastructures.”
The ability to handle nonstandard products, such as complex commercial lines or specialty products, is what differentiates ISMIS, according to Campbell. “Insurers often approach us to help bring digitalisation to their commercial products, and we work with their own IT teams and infrastructure to ensure that we can maximise efficiencies and opportunities for growth even on the most complex products.”
“Customer service has always been central to Covernet’s success, and we regularly score between 95% and 100% on our annual customer appraisals, so it is very satisfying that we have received similar great feedback through IBUK’s independent awards. The 5-star accolade is great recognition for all of our hard-working team.” Added Campbell.
Read more about the awards and other award winning Technology providers.