"The world's oldest and most respected insurance marketplace acknowledges that the technology we are creating is the future of small commercial distribution," says
Layr's smart technology is a win-win for both the insurance carrier and the small business owner. It provides the easiest, fastest and most cost-effective way for insurance carriers to get their products in front of small business owners, while offering the most positive insurance experience for the small businesses themselves.
Layr is not a quote-comparison engine or lead generator. Instead, its technology sources real-time underwriting data and automates upselling and cross-selling throughout the policy year. It does the hard work for small businesses looking to buy insurance by analyzing their business and making tailored insurance recommendations while predicting what the recommended coverage will cost. What's more, Layr is eliminating the tedious small commercial insurance application and confusing quotes that typically follow it. In just a few clicks, coverage is bound within 48 hours and monthly credit card payments are accepted.
Lloyd's selected Layr to join the first cohort of its
"Layr's innovative technology is the exact reason we launched the Lloyd's Lab. Our investment in Layr shows Lloyd's commitment to drive innovation like this within the insurance market," says
To find out more about Layr, visit www.withlayr.com.
Layr enables companies to get the liability insurance protection they need and pay for it monthly with a credit card. The natural evolution of small business insurance, Layr's AI-powered online platform automates the intelligence of the broker while predicting carrier pricing. It enables business owners to purchase insurance tailored to their company in minutes from a simple, online self-service portal.
For more information on this press release visit: http://www.releasewire.com/press-releases/layr-uses-technology-to-unlock-small-business-insurance-market-with-lloyds-backing-1220519.htm