StarStone Launches ESCAPE 1-2-3 Broker Platform
7th September 2017
NEW YORK: September 07, 2017 – StarStone, the global specialty insurer, has today launched ESCAPE 1-2-3, an online broker platform designed to dramatically simplify product access and improve the profitability of wholesale brokers.
ESCAPE 1-2-3 builds on the success of StarStone’s award-winning broker portal ESCAPE. Launched in 2010 for US wholesale brokers servicing SME accounts, ESCAPE consistently cuts the quote-to-bind-to-issue process from days to minutes. ESCAPE 1-2-3 will deliver further efficiencies and offer a substantially increased product range, catering for 30 professional liability classes.
Leveraging key architectural and distribution aspects of StarStone’s ESCAPE portal, ESCAPE 1-2-3 will be used in conjunction with brochures and rating tables, removing the need for wholesale brokers to use the portal to obtain quotes. By only accessing ESCAPE 1-2-3 to bind risks, brokers will reduce the number of steps typically required from six to one to maximize efficiency and profitability.
Kardiner Cadet, Head of eCOMMERCE, said: “StarStone is changing the paradigm for how wholesale brokers transact business. ESCAPE 1-2-3’s online brochures provide an instant quote. With an order to bind, brokers can obtain a policy in less than 10 minutes, compared to traditional processes that can take between four and 25 days.”
Mark Sioma, Senior Vice President, Management & Professional Liability, said: “ESCAPE 1-2-3 greatly improves the efficiency of conducting small business. With easy and cost-effective access to a broad range of professional lines products, it delivers genuine competitive advantage to our wholesale broker partners.”