OVERLAND PARK, Kan.,
May 22, 2024 /PRNewswire/ -- Just in
time for hurricane season, Overland Park,
KS-based Vortex Weather Insurance releases a new guest
checkout enhancement to its fully-automated weather insurance
portal, making the process even faster and easier for users. This
is a major improvement to the insurtech's already innovative
portal, greatly benefiting small businesses who need fast coverage
and don't currently work with an agent.
The portal expedites the underwriting
process for parametric weather insurance and allows for on the spot
binding.
Launched in 2023, Vortex's Weather Insurance Portal is an
industry-leading digital insurance platform that allows event
organizers, small business owners, and insurance brokers to quote
and bind rain and supplemental hurricane insurance policies online
in just minutes.
The portal expedites the underwriting process for parametric
weather insurance and offers a seamless user experience from
creating quotes, tracking rates, and binding policies on the spot.
To generate a rain insurance quote almost instantly, event
organizers and small business owners simply enter:
- the business name and address
- event location
- event date and time(s)
- the amount of revenue to insure
The user is presented with rainfall threshold options and
premiums they can choose to purchase that best fit the needs and
budget of the event. If the recorded rainfall meets or exceeds
the policy's selected rainfall threshold, it triggers a claim.
Cancellation is not required for a payout to
occur.
Supplemental hurricane insurance quotes require:
- the business name and address
- the amount of revenue to insure (you do not have to insure to
value)
- size of the coverage circle the policy owner wants around the
business (20 or 40-mile circle)
If the recorded storm track of the hurricane's eye crosses
into the policy's coverage area, it triggers a claim.
Registered account holders can login and check for updates
should a claim be triggered. The claims and settlement processes
are automated and transparent. Claim checks are usually mailed in
about two weeks.
Vortex's new guest checkout feature allows the user to quote and
bind a policy without registering for an account. The policy
documentation and payment receipt are emailed to the purchaser.
Should a claim trigger, Vortex will simply notify policyholders of
claims and payment status via email.
"We are thrilled to have a Guest Checkout feature now
available," said Vortex VP of Business Development Andy Klaus.
"We've designed the portal to be very user friendly and intuitive
for event organizers and small business owners, so quoting and
purchasing can be completed in just a few minutes without the user
ever speaking with an agent. We're available to answer any
questions but understand that many customers simply don't need
assistance."
The portal has been a game changer for events and small
businesses looking to quickly and easily secure coverage that fits
their needs and budget. With spring well under way and rainy
weather a common occurrence, hourly rain insurance is a critical
consideration to the success of any outdoor event.
And with hurricane season officially starting June 1, more and more businesses near the Gulf
and Atlantic coastlines are shopping for annual supplemental
hurricane insurance policies. Experts are predicting an
"extremely active" hurricane season, and now is the time
to find wind/hail and hurricane coverage. Vortex's
Supplemental Hurricane Insurance works to fill gaps
traditional policies leave behind. Payouts are based on the
recorded track of a major hurricane and its proximity to the
insured's location.
The release of this new functionality aligns perfectly with the
busy season for the majority of Vortex clients. Since launching the
portal, over 1500 uniquely structured hourly rain and hurricane
quotes have been created. Vortex anticipates continued heavy use of
the portal's guest checkout feature as more businesses prepare to
protect their revenue this year.
ABOUT VORTEX:
Vortex Weather Insurance (dba Vortex Insurance Agency, LLC)
is a data-driven weather risk insurtech that offers businesses a
variety of affordable parametric weather index insurance products,
now including supplemental hurricane insurance. Since 2008, Vortex
has provided insurance for outdoor events ranging from fairs and
festivals, motorsports, youth sports, parades, professional golf
tournaments and golf clubs to outdoor theaters, haunted houses and
holiday light events. Insurance is underwritten by Mitsui Sumitomo
Insurance USA, Inc. (MSU),
admitted in all 50 states and has an AM Best rating of A+
(Superior). Contact us at vortexinsurance.com
CONTACT INFORMATION:
Vortex Weather
Insurance
Stacy
Stephens
913-253-1205
sstephens@vortexinsurance.com
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SOURCE Vortex Weather Insurance