The new service allows agents and brokers to quote commercial properties en masse like condominiums and helps to identify multiple risks associated in minutes. The technology streamlines data from a variety of source and can provide details related to roof damage/repairs, possible problems as well as general maintenance from first-party data. It is also able to extract third-party data for other details related to the properties.
Roy Feig, VP of product for Honeycomb, commented: “We want to make it easier for brokers to identify properties, and grow and scale their coverage efficiently.”
The company currently only writes for commercial risks related to multi-family properties and occasionally for some mixed-use environments.
The pilot program has successfully moved into the next phase, with a long-term goal of becoming a self-service option to agencies. With the ability to scan for data and receive critical information related to the properties in approximately five minutes, agents can easily identify properties to include in their coverage portfolios.
The ‘AQ’ product is now available to all appointed Honeycomb agents and is poised to evolve into a self-service option for agencies, property managers, investors, and other stakeholders in the future.
The news comes after Honeycomb completed a successful $36 million Series B last month and was founded by Itai Ben-Zaken (main image).
