An Overland Park, Kansas, firm is trying to make it a little easier for insurance agents to give their business clients some peace of mind when it comes to planning big outdoor events.
Vortex Weather Insurance’s new ProIQ portal allows agents to quickly provide parametric insurance options to organizers of fairs, festivals, concerts and sports tournaments seeking protection from bad weather revenue losses.
ProIQ is designed to speed up the process of buying weather insurance as agents can open the online tool, enter event information, and receive instant rate quotes. Policies can be issued electronically without phone calls or emails.
Andy Klaus of Vortex said as events open back up after an extended period of COVID-related restrictions and cancellations, this type of coverage will be popular with those looking to minimize the risk of lost revenue caused by stormy weather.
“People are looking for alternative methods to insure their businesses. This tool opens it up beyond Vortex’s capacity to sell rain insurance on our own,” Klaus said.
For more from Klaus on how outdoor events took a large financial hit in 2020 and how they can successfully rebound in 2021, click here.