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For Insurers

Case Studies

Central Insurance Companies automates appetite search with IVANS

Central Insurance Companies previously experienced a high degree of no-hit submissions when communicating its commercial lines appetite and target business, missing potential business opportunities. After leveraging IVANS Markets, the insurer is beginning to see an increase in in-appetite submissions, improving overall communication with its agency partners.

"With IVANS Markets, we are beginning to see a reduction in no-hit submissions leading to efficiencies in writing Commercial Lines policies. We have also improved our agency relations because the software has made it easier for our agents to do business with us."

John White

Senior Vice President of Information Technology,
Central Insurance Companies

Challenge

Central Insurance Companies had been challenged with communicating its commercial lines appetite to agents. “Historically, we've had a high degree of no-hit submissions, in the neighborhood of 30 percent” said John White, senior vice president of Information Technology, Central Insurance Companies. “We were missing premium growth potential because agents didn't know our risk appetite.” The insurer needed a way to effectively deliver appetite information for commercial lines to its agent partners.

Central Insurance also struggled with the need to continually train agency staff on the current market appetite in Commercial Lines, diverting from the insurer’s daily tasks and causing frustrations with agency partners. Upkeep and distribution of current appetite guidelines also created inefficiencies and took valuable time away from the insurer’s staff.

Solution

Central Insurance now leverages IVANS Markets, an online search tool to communicate appetite to agents. When agents begin searching for a commercial lines market to submit their new or renewal business, IVANS Markets presents the insurer’s appetite to agents. Integrated into agents’ daily workflows, there is no need for training and distribution is automated for greater efficiency.

Result

Central Insurance is now experiencing an increase in in-appetite submissions since leveraging IVANS Markets. “With IVANS Markets, we are beginning to see reductions in no hit submissions leading to increased efficiencies in writing commercial lines premium,” said White. “This tool furthers helps us to improve our agency relations because the software makes it easier for our agents to do business with us.”

Additionally, Central Insurance has enhanced agency relations by automating the market search process. Available to all agencies via IVANS Markets registration and integrated with nine management systems, IVANS Markets allows for better agent relationships by reducing time-consuming, imprecise steps traditionally used to determine appetite. “IVANS Markets allows us to drive efficiency for our agents and cut down on appetite training for new agency staff,” said White. The insurer can now leverage a simple, automated solution to connect with agents for new business opportunities, furthering its commitment to greater efficiency and business value for its customers.

About Central Insurance Companies

Central Insurance Companies is a property and casualty company that writes more than 350,000 commercial and personal lines policies for policyholders in 20 states and is represented by more than 400 independent agencies.

Central Insurance logo

Company Snapshot

Headquarters: Van Wert, OH
Additional offices in Alpharetta, GA, Waltham, MA, and Irving, TX
575 employees

Software Leveraged

IVANS Markets

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