#USA #parametric insurance #Overland Park #Vortex Weather #First Connect

Vortex Weather Insurance Partners with First Connect

Vortex Weather Insurance is taking strides to make weather risk protection more accessible for independent insurance agents by partnering with First Connect, a digital platform that connects agents with an array of insurance carriers. This collaboration allows agents to easily access Vortex's parametric weather policies, streamlining the process of offering crucial weather insurance to clients.

This partnership promises to widen Vortex's reach significantly, making their policies available to tens of thousands of independent agents across the country. Independent agents using the First Connect platform can now provide Vortex's specialized insurance solutions to a wider base of clients, ensuring better protection for outdoor events and businesses that are vulnerable to adverse weather conditions.

Andy Klaus, the Vice President of Business Development at Vortex, expressed enthusiasm about the partnership, stating, “We’re excited to make Vortex's hourly rainfall and annual hurricane products available to agents through the First Connect platform.” This enthusiasm echoes the increasing need for parametric weather insurance, a unique form of coverage that offers clients a safety net without the need to prove damage after an event.

Parametric weather insurance operates differently from conventional insurance policies. With traditional policies, clients may need to go through a lengthy claims process that requires proof of damage. However, parametric insurance pays out as soon as specific weather parameters are met, simplifying the claims process and providing quicker financial relief to policyholders. In the case of Vortex's offerings, clients engaging in outdoor events can secure hourly rain insurance, while businesses located along the Gulf and Atlantic coasts can benefit from supplemental hurricane coverage.

The quote to bind process for Vortex products is user-friendly and can often be completed in just a few minutes. Claims are typically automatic; for instance, rain claims are processed swiftly, with checks issued within approximately seven days, while hurricane claims are resolved within about 30 days. This efficiency makes it easier for agents to cater to existing clients and tap into new markets simultaneously.

Vortex's integration into the First Connect platform places it among more than 130 different insurance carriers available to independent agents, increasing visibility and options for agents looking to provide the best solutions to their customers. As Klaus mentioned, “Being on a platform like First Connect raises our visibility among agents, who can then provide the best possible options to their customers.”

This partnership represents a significant shift towards improving how agents interface with parametric weather insurance options. With a backing of strong underwriting from Mitsui Sumitomo Insurance USA, Inc., Vortex is equipped to handle a wide range of businesses and events, positioning them as a leading insurtech in the weather risk sector since 2008.

The new partnership with First Connect aims to empower independent insurance agents with the necessary tools and resources for success in a competitive market. For agents, accessing significant weather protection is essential to meet the growing demands of businesses and individuals engaging in outdoor activities.

Vortex Weather Insurance continues to innovate within the insurtech realm, focusing on data-driven solutions that meet the evolving needs of its clients. As the demand for weather-related insurance products rises, the alliance with First Connect signifies an industry shift towards more streamlined and efficient solutions that offer substantial protection against unpredictable weather events.

For more information about Vortex Weather Insurance and its offerings, please visit vortexinsurance.com.