Lumen, Transverse partner to launch commercial property insurance program
Lumen Risk Services and Transverse Insurance Group have partnered to launch a new commercial property insurance program. The non-admitted program will initially offer monoline property coverage for multifamily, hospitality and light commercial property accounts, with plans to expand into other lines of coverage in the future.
Lumen has also announced the launch of KURRENT, a new digital platform for the commercial insurance space. KURRENT gives producers access to a portal that accepts submissions, facilitates underwriter communications, centralizes delivery of policy documents, automates endorsement requests, and provides easy access to in-force accounts and renewals. The platform also delivers real-time analytics on the producer’s entire book of business at Lumen.
“We are beyond thrilled to launch Lumen’s first commercial property program in partnership with Transverse Insurance Group,” said Scott Whitaker, CEO of Lumen Risk Services. “Our two organizations are uniquely aligned in how we see the future of insurance programs and our mutual desire to lead with technological innovation. This gives us a chance to showcase our proprietary, cloud-based platform that will set the standard for the commercial lines space and virtually eliminates the need for any other outside systems.”
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Erik Matson, co-founder and CEO of Transverse, noted that the partnership is another example of Transverse’s insurance acumen and ability to partner with an MGA. Lumen has approached a segment of commercial lines insurance with a combined ability to solve the policy construct and administration, he said, as well as analytics to help guide their distribution partners.
“We are excited to be part of this great effort and our ability to act in parallel with our partner to drive results,” he said. “We strive to combine the talent and experience of our team with the flexibility of our hybrid fronting structure to underwrite great MGAs and their programs.”