Insurtechs Working Together: A Different Way to Cover Small Businesses
Technology | Patrick Girouard, Attune | Jun 13 2019
Any agent who has worked with small business owners knows that the process is a complicated one. There is typically a lot of work involved, including working through complicated insurer appetites, policies that don’t properly cover customers, and what feels like endless forms to fill out in order to submit and underwrite a risk. And, since these are small business owners, the payoff is smaller than other larger clients, discouraging agents from these accounts.
As the insurance industry is currently undergoing digital transformation, the quoting and underwriting process is no different.
Started in January of 2017 and backed by AIG, Two Sigma IQ and Hamilton Insurance Group, Attune is reinventing how independent agents cover small businesses. Attune works only with strong financial insurers to offer Businessowners’ policies, Commercial Liability Excess policies and Workers’ Compensation.
As a digital-first general agency, ease of use is critical for our customer base and embracing digital is what springboards that experience. Attune uses technology to gather data to limit the amount of data entry agents must complete for applications and underwriting. Getting a bindable quote from Attune takes minutes – not days or weeks.
Attune’s use of data doesn’t stop with the application process. It is an integral part of its underwriting and analytical edge, allowing Attune to successfully write many classes of business including some of the most frequently searched classes on IVANS Markets: Lessor’s Risk, Medical Offices, Aristan Contractors and Restaurants.
Insurance for small business owners is deeply personal as they have their livelihood on the line with their policies. By embracing digital, we can further our mission of empowering our insurance agents to spend time where it matters most – with their clients, not on paperwork or administrative tasks.
Where can you find Attune?
Attune’s BOP, Excess and Workers’ Compensation appetite is now searchable in IVANS Market Appetite and within Applied Epic. As a free tool available to you, IVANS Markets allows you to search by NAIC/SIC code and state for commercial lines market appetite to submit new and renewal business.
Integrated within nine agency-management systems and available through markets.ivansinsurance.com, IVANS Markets allows you to search for insurer appetite within your daily workflows. Simply type in your search criteria, including state location and industry code, and instantly receive a list of insurers, MGAs and wholesalers who have an appetite for your risk and information on who you can contact.
To read the original article in full, click here. For more from IVANS Insurance, a division of Applied, visit blog.ivansinsurance.com.
Tags: Technology , Applied Systems , Applied Epic , IVANS Insurance