Sayata Unveils The First-Ever Online Platform To Offer Multiple Miscellaneous Professional Liability Quotes In One Place

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May 01, 2023, 09:00 ET

The distribution platform partnered with Arch Insurance, At-Bay, CFC, Counterpart, Lloyd's of London, and Vela Insurance to give wholesale brokers and their SMB clients access to several Miscellaneous Professional Liability (MPL) coverage options from a single online destination.

BOSTON, May 1, 2023 /PRNewswire/ -- Sayata, the leading marketplace for insurance brokers and carriers to quickly scale their business insurance portfolios, announced the addition of Miscellaneous Professional Liability (MPL) coverage to the Sayata platform. Partnering with several prominent insurance providers, Sayata now gives wholesale brokers direct access to multiple MPL quotes on the online platform.

Similar to Sayata's other lines of insurance, brokers enter a few basic details, and the Sayata platform quickly returns up to six quotes for coverage. At-Bay and CFC expanded their Sayata footprint, adding MPL to their already strong cyber presence on the digital distribution platform. Arch Insurance, Counterpart, Lloyd's of London, and Vela Insurance Services, a Berkley company, are joining them, forming the initial core group of providers offering MPL.

"With MPL, wholesalers gather quotes by connecting with market partners one by one in an all too often inefficient process. Sayata is here to help brokers be more productive by streamlining this manual process of discovering and buying insurance for small and medium businesses. With MPL now accessible on the Sayata platform, our broker partners save significant time and effort in finding and securing the right coverage suited to their needs," Said Iddan Golomb, Chief Product Officer of Sayata. "We're pleased that our legacy partners At-Bay and CFC, as well as new partners Arch Insurance, Counterpart, Lloyd's, and Vela Insurance Services, share the same vision. We're eager to expand the capabilities of our MPL offering, broadening the features and functionality of the MPL quote and bind process."

Here's what the market partners are saying:

Arch: "We are thrilled to partner with Sayata to offer a meaningful miscellaneous professional liability solution to businesses that provide advice, guidance, and services to their clients and customers," said Jamie Schibuk, EVP Professional Liability at Arch Insurance. "Arch is focused on continuous product and experience improvements, and the dynamic feedback loop established with Sayata will allow us to address the needs of policyholders and experience for the brokers in real-time."

At-Bay: "We're thrilled to offer At-Bay's MPL product on Sayata's platform," said Austin Martin, Head of Professional Liability at At-Bay. "Together, we're making it easier for brokers to obtain auto quotes for MPL from across more than 50 diverse business classes of up to $25M in revenue," he added.

CFC: Anthony Aylett, Practice Leader | US Professions, commented, "As a technology-driven company, we at CFC are always on the lookout for cutting-edge solutions. Sayata's MPL quoting engine delivers an innovative way for brokers to quickly and seamlessly find MPL insurance for their SMB clients."

Lloyd's: "Lloyd's syndicates have supported the MPL coverage on the Sayata platform. Sayata developed a seamless user experience making it easy for brokers to place risks. Now, the SMB market is instantly accessible while driving a high volume of business through an easy-to-use online quote-bind solution."

Vela: "Vela Insurance Services is very excited to collaborate with Sayata by offering them access to our Miscellaneous Professional Liability product, and we look forward to a successful partnership with them."

About Sayata

Sayata delivers rapid growth to insurance brokers and carriers that cater to small and medium businesses. The Sayata platform streamlines the once-manual process of finding and securing business coverage, allowing insurance professionals to sell more insurance policies in a fraction of the time. Sayata provides an end-to-end technological solution along with educational tools, giving their partners the ability to grow their portfolios quickly and efficiently.

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SOURCE Sayata