Torus Recognized as Model Insurer by Leading Research and Consulting Firm
9th February 2012
Torus, the global specialty insurer, today announced that it has been recognized by Celent – a research and consulting firm focused on the application of information technology – as a 2012 Model Insurer for the development of a new and revolutionary online web portal, ESCAPE.
Honored for delivering a state-of-the-art portal that improves the online quote to bind process for brokers selling umbrella and high excess liability policies, Torus is part of a select group of insurers recognized by Celent for its accomplishments and best practices in the use of technology. Celent’s awards are presented annually to insurers that demonstrate best practices in utilizing technology.
“The vision for Celent’s Model Insurer research is to try to answer an apparently simple question: ‘What would it look like for an insurer to do everything right with today’s technology?’” said Karen Monks, an analyst in Celent’s insurance practice. “Torus was chosen for Model Insurer because of the company’s best practices in channel management, improving productivity and better enabling end user feedback.”
Naveen Anand, CEO of Torus Americas, said “ESCAPE has been, and continues to be, a key investment and growth initiative for Torus. As Torus continues to expand and meet the market demand for innovative specialty insurance products, we firmly believe delivery should leverage the 21st century technology platforms recognized by this award.”
ESCAPE was launched by Torus in 2010 with the goal of streamlining the quote–to-bind process for brokers. Using the latest breakthroughs in software and technology, the portal‘s offerings include a quick quote option, immediate policy issuance, multiple limit options at quote as well as access to communicate with an underwriter in real time.
The portal is currently available for select brokers selling umbrella and high excess liability policies to small businesses. Umbrella and Excess products are available on an Excess and Surplus Lines basis. Excess products are also available on an Admitted basis.
Plans for additional Torus products to be offered via the portal are in place for 2012.
To learn more about Torus visit www.torusinsurance.com.