Azur Technology unveils latest project with Euclid Legal Pro
Euclid Legal Pro’s systems had been manual prior to working with Azur Technology. Submissions were processed manually (a huge challenge for a two-man underwriting team), with invoices and policy documents written on an individual basis. To make matters more complex, rater and binder information was recorded in Excel and different shared folders held data from multiple sources. This made reporting on policies, revenue numbers and broker stats a time-consuming task.
Euclid Legal Pro’s new solution combines all the documents necessary to underwrite accounts, empowering the MGA to carry out critical tasks more efficiently and at record speed. Responding to broker requests and generating quotes, binders and policies can all be done in minutes rather than days, helping to win more business and increase profitable premium.
Speaking about Azur Technology’s solution, Mike Heffernan, Managing Principal at Euclid Legal Pro, said:
“At the core of our business is our responsiveness to brokers. Doing everything by hand you lose the speed and when you lose the speed you lose business. The Azur Technology product has saved us about two days’ work a week and created maximum efficiency in regard to turning around responses to our partners, which is imperative for us to be successful.
When brokers need a quote, they need a quote. When they need a binder, they need a binder. They have to issue that policy and with MGA Connect in place we are able to meet timelines that are best in class. Very early on, Azur Technology understood our business. They understood what we needed the system to do and how it needed to perform. They achieved it. What we have now is unique and impressive.”
Formed in 2023, Euclid Legal Pro is part of the Euclid Program Managers partnership program.
Nick Colis, the company’s Senior Vice President, Program Development, said:
“Azur Technology has been instrumental in driving our digital transformation, enabling our teams to achieve new levels of efficiency. Our underwriters are now saving two days a week on administrative tasks, which is a significant improvement. With our business data now fully structured and centralized, we are enhancing visibility across all our operations”.
Azur Technology, the technology partner for MGAs, delivered a range of tools to Euclid Legal Pro as part of its transformation to digital. The MGA has a central rater, as well as an underwriter workbench, which notifies underwriters of submissions once they enter a triage queue. All policy admin, including billing, can be carried out via the platform, delivering a paperless, end-to-end underwriting and reporting solution.
Bronmame Jefferson, Azur Technology’s Product Lead for the project, added:
“We have streamlined the process for Euclid Legal Pro’s two-underwriter team, significantly reducing the time required to accurately input data and generate policy documents. They have visibility of all the submissions and bound policies. They can also analyze loss ratios and claims data in a third of the time it would usually take. So not only do they save vital hours processing data, they gain valuable insights to manage the business and risk. It’s completely transformative.”
Azur Technology is now working on a second phase for Euclid Legal Pro, with expanded capabilities that will drive even greater efficiency for the MGA.
For more information on Azur Technology’s MGA Connect product, or to book a demo, click here
