Small business insurance: How to compare and get the right policies

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DY KUNKEL, VP ACCOUNT MANAGEMENT: Typically, our clients come to us originally for, let's say, a general liability policy. And they are getting that to meet contract requirements.

When they come to the account management team or at renewal time, they're looking to grow those contracts or they have a new contract, so they typically are adding on workers compensation, or they might need an umbrella limit to meet those requirements, or professional liability.

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When a customer comes to our website, the producer will work with them to get their coverage in place initially, and then after 32 days post bind of that policy, it'll rotate over to an account manager based on the business class and which vertical that client fits into in our account management team.

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And then the account manager will handle that policy and that customer for its longevity as long as it stays with Insureon, it stays with that account manager to work with the client, grow the client, and provide them whatever they might need.

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These account managers, they help retain our book of business, so their goal is to renew all the business that comes through our agency and keep it on the books, as well as grow our clients, provide customer service, as well as also cross-selling and upselling new policies to those clients to meet their business needs.

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We best serve our customers through making sure that they fit with each of our carriers by underwriting, as well as looking at each of the business's needs individually, and then matching that with our core markets that we work with and their pricing, as well as their coverages that they offer.

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We've seen a steady increase in customers over the past few years because of our technology offerings that we have. The marketplace, and most of the world, looks for things to be instantaneous. They want it on their cell phone, they want to be able to receive it immediately, and our product offerings give that to the client.

We can give them a quote in a minute, or we can provide them a certificate of insurance automatically, and all of that is done through our technology. We keep our customers coming back to us year-over-year because we have trusted insurance advisors as account managers.

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They have numerous years of experience in the insurance industry, as well as we also offer great renewal processes and procedures that provide ease of use to our clients by utilizing our technology. Typically our customers are purchasing additional policies, as well as renewing year after year. We don't typically see them coming to us for other needs.

Clients are unable to get something in an instant as far as insurance goes, they're going to walk into a local insurance agency where it could take up to a week for them to get their insurance quote or their certificate, where we can provide it to them in an instant.

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Insureon has a customer portal that gives clients access to their policies. If they want to review their policies, they can also make changes and request those changes direct on our portal, as well as they can go in and get their own certificate of insurance without ever having to interact with a human. Technology is definitely the future for small business insurance.

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Most of the insurance carriers and companies out there don't offer a technology advantage like we do, and again, everybody wants things on an instant basis, and so we're able to provide that to customers, and I think that's the way the insurance industry has to go if they want to keep up with the everchanging world.

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