Losing to Biberk? Trucking work comp

[EugeneM]

Lost a trucker to Biberk direct. It was a small account but still. Have you guys lost anything to them and what industry was it?

I figure I will probably hear back from them later this year because they didn't get classified right. I am strong believer in having a retail agent to help you especially in niche industries but I am starting to see a trend. More and more agents getting cut out.

 

[AZDave]

Oh great! I was really hoping the online quoting company's would stick to auto and home.

I have come across Next Insurance.

For the heck of it, I just went into Biberk and ran a quote for a framing contractor, using fictitious information. It spit out the quote quite easily. Rate wise, was about 15% less than my best framing companies rate.

3 minutes after closing the quote, my phone rings. It's a Biberk rep, calling from Nebraska. Told me they are writing most construction classes. Commercial auto goes to Geico for now. But they write all lines. Even work comp on truckers!

Dave

 

[myfakename]

Oh great! I was really hoping the online quoting company's would stick to auto and home.

I have come across Next Insurance.

For the heck of it, I just went into Biberk and ran a quote for a framing contractor, using fictitious information. It spit out the quote quite easily. Rate wise, was about 15% less than my best framing companies rate.

3 minutes after closing the quote, my phone rings. It's a Biberk rep, calling from Nebraska. Told me they are writing most construction classes. Commercial auto goes to Geico for now. But they write all lines. Even work comp on truckers!

Dave

It is coming/here on the smaller stuff. I lost the WC on a restaurant to one of those online companies. The owner was alot of work so i didnt mind it much. We will see how long he lasts there.

 

[EugeneM]

Thanks for the info guys, just trying to prep for this. 15% less?? ouch

 

[Jason Henderson]

It is coming/here on the smaller stuff. I lost the WC on a restaurant to one of those online companies. The owner was alot of work so i didnt mind it much. We will see how long he lasts there.

It seems inevitable that a chunk of personal lines and small commercial will be lost to online quoting systems. What will be interesting is the horror stories and potential lawsuits when policyholders sue the online system when there isn’t coverage...what will be lost is an actual risk advisor. Also if the call centers are outsourced to out of the country I’m sure people will take issue with trying to file a claim or get status updates...

 

[myfakename]

It seems inevitable that a chunk of personal lines and small commercial will be lost to online quoting systems. What will be interesting is the horror stories and potential lawsuits when policyholders sue the online system when there isn’t coverage...what will be lost is an actual risk advisor. Also if the call centers are outsourced to out of the country I’m sure people will take issue with trying to file a claim or get status updates...

Audits and loss controls are gonna be great on the commercial...