(Image source: Vertafore.)
Vertafore (Denver) has announced that State Automobile Mutual Insurance Company (Columbus, Ohio) and Leavitt Group (Cedar City, Utah) are the latest industry partners to join its Commercial Submissions platform to drive innovation in market connectivity.
Vertafore describes Commercial Submissions as connecting the end-insured, agents and carriers for simplified, real-time quoting on commercial policies. The vendor says the platform works seamlessly within Vertafore’s agency management systems, allowing agents to significantly reduce the labor-intensive, repetitive and time-consuming process of quoting commercial insurance coverage.
Vertafore reports that State Auto, as a Commercial Submissions carrier design partner, has been working with Vertafore to bring additional capabilities and options to independent agents and their business customers. Starting in early 2021, State Auto, a commercial insurance carrier with multiple lines of coverage, plans to enable agents to use Commercial Submissions to quote business owners’ policies (BOP) in real-time, followed by commercial auto and workers’ compensation.
“State Auto strongly believes that digital distribution in the independent agent channel is the best path forward for the insurance industry. Vertafore continues to innovate in ways that enable carriers like us to help independent agents grow,” comments Brandon Bauer, VP, platform distribution, State Auto. “Integrating State Auto Connect, our fully digital quote and bind platform, with opportunities like Commercial Submissions brings even greater ease of use to our agents at a time where digital is becoming more and more important in commercial lines.”
Vertafore reports that has also onboarded a number of its agency design partners onto Commercial Submissions, including Leavitt Group. Which the vendor says is helping to drive the innovation behind Commercial Submissions.
“We write a large volume of small to medium commercial accounts, and we believe Vertafore’s platform will be an absolute game changer for us,” comments Joe Callister, COO, Leavitt Group. “Providing guidance to small commercial clients is an important part of what we do each day. Automation and real-time connection with our carriers will significantly enhance our ability to efficiently service commercial accounts the way we want and the way our clients need.”
Improving Market Connectivity for Agents and Carriers
Commercial Submissions lets agents quote commercial policies in minutes directly from their Vertafore management system, using live collaboration capabilities, according to the vendor. The solution pre-fills 80 percent of application fields from the agency’s management system and allows agents to invite clients to review, change and/or approve quotes in real time, toward the objective of helping agents to win business faster and easier than ever before, Vertafore says.
“Automated integration with the carrier has added incredible speed and convenience in the personal insurance segment, and the need for that capability is just as great for commercial insurance,” comments Amy Zupon, CEO, Vertafore. “We’re working closely with our carrier and agency design partners to build a solution that will truly enhance our customers’ success across the insurance distribution channel.”
Gauging the Direct Commercial Lines Market Opportunity: Celent Study