Real-Time Cyber Insurance Distribution for Retail Agents

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Real-Time Cyber Insurance Distribution for Retail Agents

Transforming Agent Experience Through Digital Innovation

Business Context

28%

of SMBs carry cyber insurance

$4,450,000

average cost of a data breach

10%

small businesses hit by ransomware annually

Small businesses face rising cyber threats, yet cyber insurance adoption remains extremely low.

Retail agents struggle to explain complex cyber coverages, compare widely varying carrier forms, and guide SMBs through a confusing buying process. The result: protection gaps and millions in lost premium opportunities.

The Challenge

Retail agents struggled with inefficient processes that hindered their ability to serve clients effectively

Time to Quote: 45-60 Minutes

Agents manually entered data into 5–7 separate carrier portals, waited days for responses, and spent 30+ minutes comparing PDFs.

Operational Strain

Jargon-heavy cyber coverages (first-party vs. third-party, social engineering, data restoration, BI) caused confusion and required repeated explanations.

Lost Revenue

Agents had cyber conversations with 26,000+ SMBs yearly—but only placed 3,200 policies.

Time to Quote: 30-60 Minutes

Agents had to navigate multiple carrier portals and systems, creating lengthy delays for time-sensitive flood insurance quotes.

The Problem Impact

Agent Efficiency -70% (reduced manual comparisons)
Client Comprehension 3.2/10 product understanding
Quote Conversion 12% close rate
Revenue Impact $3–4M lost annually

Our Solution

Instant cyber insurance education + multi-carrier comparison in one unified platform.

Scenario-Based Education

Short, interactive modules explain cyber coverage through real-world situations—phishing attacks, ransomware events, website outages—so SMB owners instantly understand what each policy actually protects.

AI Carrier Comparison

AI evaluates coverage across 7 carriers in real time, generating clear side-by-side comparisons that highlight differences in limits, sublimits, and incident response—all presented in simple, actionable language.

Unified Submission Workflow

Agents enter business details once. The platform automatically distributes the submission, captures requirements, and returns comparable quotes—eliminating repetitive data entry across multiple portals.

Plain-Language Coverage Clarity

Jargon-heavy policy terms are translated into direct, SMB-friendly explanations. Complex coverages like social engineering, data breach notification, and business interruption become instantly understandable.