Broker Buddha Launches New Platform in Partnership with Towerstone Inc. to Advance the Commercial Insurance Industry

NEW YORK, Sept. 27, 2018 /PRNewswire/ -- Today, insurtech company Broker Buddha announces the launch of a new quoting platform in partnership with Towerstone Inc., a Dallas-based commercial insurance wholesaler specializing in energy, construction, environmental, property and excess casualty.

Towerstone Inc. will be added to the list of launch partners for Broker Buddha's new quoting platform designed for carriers, wholesalers and MGAs. The new platform instantly replaces email communications with an online portal to help underwriters manage, track and prioritize submissions, as well as issue quotes and chat with independent agents about individual submissions in real time. 

Through the partnership, independent agencies who work with Towerstone Inc. will have free access to Broker Buddha's award-winning platform which helps them save time while creating a better customer experience.

"Our partnership with Towerstone Inc. is the first step towards simplifying the entire commercial insurance process, from submission to underwriting to quoting," says Broker Buddha Co-Founder and CEO Jason Keck. "Like independent agents – wholesalers, MGAs and carriers are key players in the value chain who have historically lagged behind in adopting new technologies. With Towerstone Inc. joining another major commercial carrier on to the platform, we can accelerate the time from client submission to bound policy for thousands of agents and their clients."

Coinciding with the partnership is Broker Buddha's acceptance into the Plug and Play accelerator program. With AssuredPartners and three other top brokerage firms in the country using Broker Buddha, the accelerator will be instrumental in helping the world's largest, technology-forward carriers work with their broker partners through Broker Buddha.

Broker Buddha is redefining the future of commercial insurance by providing a fast, easy, and customer-friendly online experience. The platform's best-in-class features include converting static PDFs into interactive, customer-friendly smart forms, which brokers can use to collect information from their clients and collaborate on the completion of insurance applications.

"We're excited about working with Broker Buddha to better connect with our network of agencies and simplify our operations," says George Schneller, Executive Vice President at Towerstone Inc. "The ability to get completed applications on the first submission and get instant reporting on our win ratios will be a huge value for the company."

About Towerstone Inc.

Towerstone Inc. is a wholesale insurance broker and managing general agency that is owned by The IMA Financial Group, Inc. It offers risk transfer products and services for energy, construction, and related industries across the United States.

About The IMA Financial Group, Inc.

The IMA Financial Group, Inc. (IMA) is a diversified financial services company specializing in risk management, insurance, employee benefits solutions and wealth management. It is the sixth-largest privately held and employee-owned insurance broker in the country and employs nearly 700 associates at offices in Colorado, Kansas, Michigan and Texas.

About Broker Buddha

Broker Buddha is an award-winning technology platform that transforms the archaic process of buying and renewing commercial insurance into a fast and easy, customer-friendly online experience. Founded in 2017, Broker Buddha's modern, intuitive and high-efficiency workflow enables brokers to reduce time spent on applications and renewals by 80% — opening up time to grow their business and nurture relationships. With cutting-edge features and integrations, Broker Buddha's full-service offering populates insurance applications with prior-year data, so customers can update their information and sign applications with ease. Based in New York City, Broker Buddha serves brokers and their clients across the United States. Find out more at BrokerBuddha.com.

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SOURCE Broker Buddha