Turris and Loro Insurtech Partner to Streamline Insurance Compliance Efforts
Turris, a leading provider of compliance and payment automation solutions tailored for the insurance industry, has announced an exciting partnership with Loro Insurtech. This collaboration aims to revolutionize the process of compliance and broker onboarding for insurers and Managing General Agents (MGAs). The new unified solution will enhance the speed and efficiency of broker and agent onboarding while ensuring automatic compliance checks and filings.
Benefits of the Turris and Loro Partnership
The partnership between Turris and Loro is designed to streamline operations in the insurance sector. Here are some key advantages of their joint solution:
- Accelerated Onboarding: The solution speeds up the onboarding process for brokers and agents.
- Streamlined Quoting and Binding: Insurers can now quote and bind policies more efficiently.
- Automated Compliance Checks: Compliance verification and regulatory reporting are handled automatically, reducing manual workloads.
- Faster Market Access: Insurers gain quicker access to the market, enhancing competitiveness.
- Real-Time Compliance Automation: Continuous compliance monitoring ensures that operations are always up-to-date with regulations.
How Turris Automates Back-Office Tasks
Turris focuses on automating essential back-office tasks that are critical for compliance in the insurance industry. This includes:
- License Verification: Ensuring that all agents possess the necessary licenses.
- Regulatory Reporting: Automating the reporting process to meet regulatory standards.
Loro’s Digital Platform for MGAs and Carriers
Loro provides a comprehensive digital platform that enables MGAs, carriers, and agents to efficiently manage the entire quote-to-bind workflow. This partnership allows clients to concentrate on growth while backend operations are handled seamlessly.
What Industry Leaders Are Saying
Peter Tilbrook, CEO and co-founder of Loro, expressed enthusiasm for the partnership, stating, “The Loro partnership with Turris showcases two key things modern MGAs and insurers should be aspiring to achieve: speed to market and real-time, painless compliance.”
Douglas Ver Mulm, CEO and co-founder of Turris, added, “Our partnership with Loro represents a significant leap forward in partner onboarding and compliance automation. Real-time license verification for every policy sold is eliminating compliance risks and driving down operational costs.”
Conclusion
The collaboration between Turris and Loro is set to transform the insurance landscape by enhancing operational efficiency and compliance. With their joint solution now live for both customer bases, the insurance sector can look forward to improved processes and a significant reduction in compliance-related risks.
For more information on Turris and Loro’s innovative solutions, visit their respective websites: Turris and Loro Insurtech.
