Marsh’s Dovetail Technology Platform Attracts Ventus Risk Management
New York | April 06, 2016
Virtual Platform Helps Carriers Grow in Small Commercial Market
Marsh Insurance Services Group, a division of Marsh LLC dedicated to developing innovative solutions for the small commercial and personal insurance markets, announced today that Ventus Risk Management will use its Dovetail Platform to improve agency service and accelerate growth in the small commercial market.
The South Carolina-based managing general underwriter has selected the Dovetail Platform to serve as its new virtual back office (VBO) to electronically distribute, underwrite, and administer small commercial insurance policies.
Dovetail’s advanced cloud-based technology platform and unique business model offer carriers and their agents an efficient electronic marketplace, including:
- A proprietary underwriting platform that incorporates social media into the class and risk selection process, resulting in more accurate premium;
- Real-time electronic proposal, binding and policy administration;
- Multi-policy single billing; and
- Rapid deployment of new products and expanded coverage lines.
“We are pleased that Ventus has selected Dovetail as its VBO technology platform to help grow its small commercial book of business,” said Steve Francis, CEO of Dovetail Insurance. “Dovetail offers a unique, state-of-the-art platform that enables carriers and agents to deliver faster, better service and an expanded product selection to their small business clients.”
Marsh acquired Dovetail Insurance in 2015 as part of its strategy to provide expanded services to the small and medium-sized enterprise (SME) segment. Based in Columbia, South Carolina, Dovetail is part of the Marsh Insurance Services Group, which also comprises Marsh Private Client Services, Marsh Sponsored Programs, and Torrent Technologies Inc.
“By combining Dovetail’s advanced technology platform with Marsh’s industry-leading data, distribution, and access to insurance capital, Marsh is transforming the small commercial insurance market,” said Kevin Tobin, president and CEO of the Marsh Insurance Services Group.
Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh’s approximately 30,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of US$13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter, @MarshGlobal; LinkedIn; Facebook; and YouTube.
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.