1Fort Launches First AI-Powered Commercial Insurance Marketplace for Brokers

Leading insurtech 1Fort announces the launch of its cutting-edge AI platform enabling brokers to instantly quote from leading specialty markets, while analyzing, comparing, and recommending coverage with AI. 1Fort’s partners have saved up to eight hours a week and increased revenue by 20% to date.

NEW YORK, May 30, 2024 /PRNewswire/ — 1Fort, a leading VC-backed insurtech, announced today the launch of the first AI-driven specialty insurance marketplace helping independent brokers save time and place more commercial risks. The platform is now available to the hundreds of brokers who partner with 1Fort.

Using cutting-edge AI, 1Fort’s platform provides brokers direct and wholesale access to instant quotes from leading insurers, then auto-generates in-depth coverage analyses, comparisons and recommendations across all options in seconds. 1Fort has also developed a proprietary GPT chatbot enabling brokers to interact with policies and answer complex questions from clients.

Prior to 1Fort, brokers reported spending up to 10 hours a week manually quoting, comparing coverage, and answering client questions. Leveraging 1Fort’s AI-powered platform, brokers have saved up to 8 hours per week, while increasing their bind rates by 20 percent with higher-quality proposals.

“For too long, insurance brokers have been burdened with manually retrieving and analyzing quotes, costing them hundreds of hours every year,” said Anthony Marshi, Co-Founder and CEO of 1Fort. “Recent breakthroughs in AI have allowed our platform to give our broker partners all those hours back for what truly matters: strengthening client relationships and growing their book of business.”

To date, 1Fort’s technology has supported hundreds of leading insurance brokers, including some of the largest brokerages nationally such as IMA, INSURICA, and High Street Insurance Partners. With admitted and surplus licenses in all 50 states, 1Fort also provides market access to major insurers across all specialty lines.

Independent insurance brokers are able to get appointed and start quoting instantly on 1Fort.com.

About 1Fort

1Fort is a leading VC-backed insurtech founded by insurance and technology veterans. Hundreds of independent agents partner with 1Fort to save time and earn more on placing specialty insurance. With a dedicated team and strong backing, 1Fort is on a mission to redefine the future of commercial insurance using cutting-edge AI technology.

Media Contact:

Toby Hung
1Fort Inc.
[email protected]

Related Links
https://1fort.com

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SOURCE 1Fort