Insurity recognized Joyn Insurance for showcasing efficiency and innovation in rapidly bringing new products to market
Insurity, a leading provider of cloud-based software for insurance carriers, brokers, and MGAs, today announced that Joyn Insurance was named "Speed to Market Champion of the Year" at Excellence in Insurance. The Excellence in Insurance awards ceremony took place in San Diego. It recognized the outstanding performances of P&C organizations in categories including exceptional policyholder service, digital transformation, and innovative excellence in data and analytics.
Joyn is an MGA underwriting E&S property and general liability for the "SMiddle" market segment, known as the upper end of small business and the lower end of the middle market. This segment grappled with convoluted manual processes and system hand-offs, leading to inefficiencies, errors, and performance-tracking hurdles. Joyn envisioned a revolutionary enhancement in underwriting efficiency and accuracy, aiming to exponentially increase its business output without compromising the customer experience.
Joyn's solution is "Spark," a platform joining top-tier insurance technologies through API integration into a proprietary workflow tool crafted in-house. Through Spark, Joyn achieved a holistic, unified experience for its underwriting and operations teams, automating an expansive range of processes from data capture to policy lifecycle management. The technology, built mainly on Microsoft's Azure platform, integrates with various insurance-specific solutions, including Insurity's Sure Billing-as-a-Service for billing.
The transformation led by Spark enabled Joyn to bind 1,700+ policies, engage with over 110 trading partners, and generate gross premiums exceeding $20M since its market inception. This success was further amplified by their Series A announcement at 2022's end, showcasing consistent, exponential growth without compromising quality.
"Joyn is honored to be recognized by Insurity as this year's Speed to Market Champion," said Fabiana Zambrano, Head of Product at Joyn Insurance. "Our initiative with Spark was not just about quickly bringing a new product to market, but a vision to redefine industry standards. Today, our platform stands as a testament to our commitment to offer unmatched efficiency, all while upholding the quality our clients trust us for."
"In today's dynamic landscape, rapid adaption and product innovation are essential to getting ahead of the competition," said Sylvester Mathis, Chief Insurance Officer at Insurity. "Joyn Insurance has demonstrated its ability to swiftly adapt to challenges and seize new opportunities to bring transformative solutions and processes to the marketplace."
For more information about the Excellence in Insurance awards, please contact Elizabeth.Hutchinson@insurity.com.
About Insurity
Insurity is a leading provider of cloud-based software for insurance carriers, brokers, and MGAs. Insurity is trusted by 22 of the top 25 P&C carriers and 7 of the top 10 MGAs in the US and has over 400 cloud-based deployments. Through its best-in-class digital platform, unrivaled industry experience, and the industry's most robust analytics offerings, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners and TA Associates. For more information, visit www.insurity.com.
About Joyn Insurance
Joyn Insurance Services Inc. is a Delaware-domiciled, licensed producer and general agent that operates under its “Joyn”TM and “Joyn Insurance”® brands. Joyn is a digital agency that underwrites commercial insurance in the small and middle markets. Joyn is powered by technology, data and expertise to deliver a transparent, trusted, and truly one-of-a-kind insurance experience to our valued brokers and customers.
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