Insurance Marketing Pro - Opinions Are Welcomed

[Edmundich]

Dear Colleagues,

I am a founder of Insurance Marketing Pro, a web based and mobile platform to underwrite and market new business. I would love to hear from insurance agents and brokers if the tools I am developing would be something of interest. The basic idea is to give a producer tools to underwrite any niche account for multiple lines of business, generate acords and supplemental apps and pinpoint which carriers and GAs will have a desirable appetite. In addition, platform will feature submission report, marketing report, prospect and carrier database etc. So here is an example: A restaurant. The software will figure out first if there is a commercial kitchen, sit down tables etc and the type of a restaurant. Next it will ask several questions that will make or break a deal for carriers: Liquor sales, catering, open past midnight, new venture etc. After that, producer will complete a series of questions, that would be a must for any carrier. Next step, the Acord Apps and Restaurant (and liquor) supplementals generated. Last step, you will see the carriers who will have a desirable appetite for this piece of business: Liberty Mutual, Nationwide, Colony but not Hartford or LIG. You will also see carriers or programs that you are not appointed with but may want to send the business to anyway.

Would a platform like that be of help for your agency?

I appreciate any responses and criticism

 

[CHUMPS FROM OXFORD]

5 posts in 39 months! You are indeed patient. I don't think the product would help me, but perhaps others will feel differently.

John Locker
Devon Insurance Services
Waco Texas

 

[Edmundich]

I am sorry I am not frequent on this forum.

 

[CHUMPS FROM OXFORD]

Just curious...where do you reside? And "not frequent" is not such a bad thing.

Re your product, your five step process will help brokers in what way? Also, the information that is gathered, have you consulted commercial underwriters to determine what information is needed? I assume carriers have different (although not substantially) underwriting criteria.

 

[Edmundich]

I reside in Northern California. Currently I am a marketing manager at a large retail agency, I also ran an agency and was a producer for over a decade. Over the years of underwriting and placing different insurance products, I noticed that a lot of producers I worked with were great in sales but lack basic understanding of the underwriting data that is going into quoting a piece of business. The most frequent questions I had were: What questions should I ask XYZ to get a quote? What apps to fill out? Who(carrier, mga) etc will write this? So I came up with this software that will serve as a virtual marketing manager. It will feature a lot of different industries/lines of business and will navigate producer to ask the right questions that are the triggers for the underwriters. Than it will generate the acords and supplementals and show what carriers like this business. To achieve that, I have a matrix with triggers for all participating carriers/mgas. At the end, I think it will help seasoned producers as well as people new in the industry to close the business quicker and for the underwriters to get the cleaner apps. I will also feature submission list, marketing list, application library, a center for new producers etc.

 

[kgmom219]

5 posts in 39 months! You are indeed patient. I don't think the product would help me, but perhaps others will feel differently.

John Locker
Devon Insurance Services
Waco Texas

Never, ever would have thought you were in Texas....