The firms have finished their integration and have been working together as of March 2020. Their collaboration lets AP Intego provide more in-depth engagement with the small business dining space. It lets Toast add a complete roster of casualty and property insurance products to the firm's offerings.
“Toast is a great partner for us because of the high level of engagement they have with each and every customer," AP Intego Director of Partnership Development Andrew Gates said in the announcement. “What’s more, we already work with thousands of restaurants so we understand restaurateurs' aspirations, business needs and service requirements, as well as the industry’s unique risk factors."
AP Intego will let clients of Toast ask for estimates and purchase commercial property and casualty insurance straight through the web or by communicating with a licensed insurance agent. Toast customers can access cyber liability, pay-as-you-go workers comp linked with Toast Payroll and general liability, among other kinds of coverage.
Moreover, AP Intego said that clients of Toast can supervise their coverage with its digital insurance dashboard or with the help of its customer service workforce.
In a previous PYMNTS interview, AP Intego Managing Director Steve Hauck said one of the major ways the InsureTech market can attract the small business client market is by harnessing the self-service business model.
"There is a disruption [and] disintermediation opportunity to be seized," he said, adding that "the small business no longer needs [or] wants to buy commercial insurance through an agent, and prefers the direct model."
Small and medium-sized businesses (SMBs) will often need a variety of insurance offerings, look for multiple quotes from various carriers, and require the ability to find, as well as supervise, those policies online and on mobile technologies.