If automated quoting was available in the P&C lines for small business clients, I would want a quote

  • If the application process was easy and nothing more required of me, I will wait.

    Votes: 0 0.0%
  • Loss run reports have always been needed it is impossible to change!

    Votes: 0 0.0%
  • What is the point of this?

    Votes: 0 0.0%

  • Total voters
    3

Insurested

New Member
2
So the question of the year when it comes to InsurTech....when will it arrive in commercial lines? I think all this talk on big data and etc is nice and easy, but when you're talking about P&C lines and how much the data doesnt really exist, well where is the hope for it? Clearly there are obstacles and one of those is the infamous loss history run. sure, we can always easily fax or email or use our internal "streamlined" processes at the office, but are they really all that stream lined? I don't think so.

So here is a question I have for you:

Transactional business - not really worth our time and the pay out isnt that great. but if it could be streamlined, how would you see it done? wouldnt you rather let an automatic underwriter look at these small applications and give you the info you need instantly so that your client is happy, business is closed, money in pocket and now you can concentrate on all the big money making applications??

but there still lies a problem - that loss history run! it stops the entire process from continuing because someone/somewhere has to look it up no matter how big or small the potential account is. BUT if you knew full well that you submitted an application, it is being reviewed and no other questions will ever be asked of you, and all you have to do now is wait for the loss run to occur, in which case you will then receive the quote to showcase to your client, would this be of value to you? Or would you just care more about turnaround times and get your client the fastest quote possible?

Yes, my thoughts are all over the place but I want to paint the picture of what is still wrong and not being addressed today. Lend me your ears - I am on a mission to make P&C easier for everyone!

Thanks Everyone! Please take this poll for me!
 
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