San Francisco, CA — Embroker, a digital insurance innovator, has announced the launch of a new, specialized insurance program aimed specifically at real estate agents and brokers. This initiative leverages the company’s cutting-edge ONE technology to offer a streamlined, all-in-one coverage solution encompassing professional liability, cyber liability, business owners’ insurance, and workers’ compensation.
The launch follows a comprehensive survey conducted by Embroker in May 2024, which engaged over 150 real estate leaders, agents, and auditors. The survey underscored the significant pressures faced by the real estate sector, revealing frequent financial losses due to critical errors and highlighting a pressing need for industry-specific insurance solutions.
Embroker’s new offering addresses these identified risks with a focus on simplifying the insurance acquisition process. The program is designed to mitigate the unique challenges encountered by real estate professionals by integrating various types of coverage into a single application platform.
Key findings from Embroker’s survey reveal that nearly 48% of real estate professionals filed a professional liability claim in the past year. Additionally, 45% experienced cyber breaches, and 82% reported phishing attempts. These statistics emphasize the necessity for robust liability and cyber protection.
The program’s business owners’ policy is tailored to address common risks such as property damage, business interruption, and general liability, providing essential coverage to safeguard all aspects of real estate operations. This comprehensive approach aims to fill the gaps often found in more generic insurance policies.
Ben Jennings, CEO of Embroker, commented on the new program: “The real estate sector is undergoing significant transformation with challenges like layoffs, cyber attacks, and evolving consumer behavior. Many agents and brokers are struggling to find adequate coverage for their unique needs. Embroker’s specialized program offers a streamlined, single-destination solution that ensures comprehensive protection and peace of mind. Our approach is designed to meet the specific requirements of the real estate industry, providing coverage that adapts to the rapidly changing landscape.”
As Embroker continues to expand its services, the company remains committed to addressing the needs of other underserved industries, with plans to evolve its offerings to meet emerging challenges and opportunities.
For more information on Embroker’s specialized coverage program for real estate professionals, visit Embroker’s website.
