Turning a Specialty Insurance Vision into a Multi-State Reality

“Working with Cogitate, we were able to stand up a full policy, billing, and claims operation, for an entirely new coverage that has never existed in the P&C market, in record time. What stood out was Cogitate’s willingness to build together and to customize to our niche needs rather than hand us a rigid box. From day one, our focus has been simple: make it incredibly easy for agents to work with us. That means fast, bindable quotes in minutes and hands-on support to help agents successfully bring Payroll Protection Plus to their clients, not just another product they’re expected to figure out on their own. Cogitate worked with us to make that possible for binding, underwriting, and servicing policies.” – Justin Krone, Chief Operating Officer

Overview:

Vital Coverage Insurance Services is a startup specialty program MGU offering Payroll Protection Plus (PPP), a first-of-its-kind P&C insurance product designed for physicians, dentists, and veterinarians. PPP protects practice income; reimbursing practices for expenses, including payroll, lease payments, equipment obligations, and practice loans, in the event of a medical event, travel disruption, or medical board disciplinary action.

Vital’s leadership sought a bespoke platform to accelerate this coverage to market. The fully customized platform, including policy, billing, claims, and distribution management, went live in 5 months.

The requirements of DigitalEdge Insurance Platform:

• Deliver an agent experience so effortless that even the busiest specialist-focused producer could get a bindable quote without training or assistance, in under five minutes
• Handle a niche, highly customized LOB that existing platforms had never configured before (including agent views, payment workflows, and claims adjuster data visibility)
• Go live quickly and validate the product with target agents
• Provide flexibility to rapidly adjust the offering to the market
• Offer support a lean operational team and promise scale Self-service features Support rapid geographic expansion
• Integrate with key data and solution providers

We recommend this to: Insurance professionals interested in a rapid launch into the market with an agile platform and attentive implementation team. Vital’s story reflects the flexibility of the platform and the capabilities of Cogitate’s team to be a true partner in the launch of an entirely new coverage – in record time.