Headquarters: Burr Ridge, IL
Years as a customer
The need to reduce dependency on traditional ways of identifying insurer appetite
Historically, staff at Allegiance Insurance Services, Inc. and ASNOA agents were challenged with understanding insurer appetite via printed (and often outdated) manuals and by visiting insurer websites. These traditional ways of identifying appetite would not only take time, but limit their access to products. Allegiance and ASNOA needed a solution to reduce dependency on the time-consuming methods of identifying insurer appetite, as well as provide more access to markets.
Now with IVANS Markets, we can diversify our appointed carriers.
Katherine M. Eraci-Bova
Director IS Training/Commercial Lines Manager
IVANS Markets: The latest insurer appetite for new and renewal business
Allegiance and ASNOA chose IVANS Markets, an industry-first application to instantly communicate appetite and identify new business opportunities with agencies. Agents can instantly identify insurer appetite when searching for markets to submit new and renewal business. The search immediately presents staff with a list of insurers, MGAs and wholesalers with an appetite for the specific risk, as well as specific product details. Additionally, the application provides staff at Allegiance and ASNOA agents the latest premium renewal rate change trends for commercial lines to advise clients on expected renewal rates while ensuring that insurers are providing the best coverage for the premium rate.
Digital technology to provide market access for new and seasoned CSRs
IVANS Markets has given the staff at Allegiance and ASNOA agents access to more markets to speed up the appointment process. “Now with IVANS Markets, we can diversify our appointed insurers,” said Katherine M. Eraci-Bova, SBCS, Director IS Training/Commercial Lines Manager, Allegiance Insurance Services, Inc. staff and ASNOA affiliates have more access to markets so they are more easily able to match their clients with the best markets for their particular risks.
Additionally, IVANS Markets enables staff who are not as familiar with insurer appetites to have the same opportunities to build new business relationships with insurers, and it encourages seasoned CSRs to look at other markets, rather than gravitate to markets they have used historically. Eraci-Bova explains, “IVANS Markets levels the playing field between our new CSRs and our seasoned CSRs.” CSRs do not have to rely solely on experience. They can search for insurer appetite directly from their agency management system, saving time as well. CSRs do not have to visit various insurer websites or thumb through large manuals. The search immediately presents staff with a list of insurers with an appetite for the specific risk.
Allegiance and ASNOA benefits from the data-driven market insights provided by IVANS Markets. “Market Insight gives us the ability to talk with insurers about where trends are headed for particular classes of business, renewals that are coming up or new accounts that we're working on,” said Eraci-Bova. Staff can be better advisors to their clients by having the latest premium renewal rate change trends to ensure they are getting the best price for client’s policies.
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