Citizens Property Insurance Renews Contract with BOLT

Insurance Weekly News

By a News Reporter-Staff News Editor at Insurance Weekly News -- BOLT® Solutions, Inc. ( www.boltinc.com), the leading digital distribution platform for the property and casualty (P&C) insurance industry, and Citizens Property Insurance Corporation announced they plan to extend their partnership for another five years. The BOLT Platform powers Citizens' Property Insurance Clearinghouse, a multi-carrier interface that attempts to identify comparable coverage from participating private-market carriers before placing business with Citizens.

"By linking private insurers with consumers through the BOLT Platform, we have been able to offer comparable coverage at competitive rates in the private market, while reducing financial risk for policyholders and Floridians," said Adam Marmelstein, Citizens' Director, Market Services. "We have achieved considerable success over the past three years and we look forward to building upon it with BOLT."

The creation of the clearinghouse has opened new opportunities for insurance companies to grow their business. Agents partnering with Citizens have increased access to Florida insurance consumers. Additionally, agents unable to accept full appointments are able to write business through the clearinghouse, which has strengthened relationships between agents and carriers.

Since its initial launch in 2014, Citizens' Property Insurance Clearinghouse has helped thousands of consumers obtain policies through the private market. At its inception, four private companies offered homeowner policies to new customers. Today, 13 private-market insurers offer a variety of property insurance products to applicants.

"Over the past three years, the clearinghouse has proven to be an invaluable asset to its members by enabling small businesses, agents, and consumers to search for, compare, and buy insurance in Florida. We are very proud to be the platform supporting this important program," said Eric Gewirtzman, CEO of BOLT. "Our partnership has opened markets for the people of Florida to help find appropriate insurance, and we are honored to continue our work with Citizens over the next five years."

The BOLT Platform is the engine that drives many of the top U.S. P&C insurers digital purchasing capabilities, through both agent and direct channels. The platform combined with its tightly integrated market network allows insurers to bundle offerings from other carriers with their own to offer customers channel and product choice bringing the insurance industry into the 21st Century.

Keywords for this news article include: BOLT Solutions Inc.