We think that insurance agents deliver the most value to their clients when they are providing advice; guiding businesses big and small through the commercial insurance marketplace and finding the best solutions to meet the risk transfer needs of their customers.
Huge amounts of time are spent, however, on the placement process. For large, complex accounts, this makes sense. Underwriters need lots of information. Contracts will often be manuscripted. There will be a healthy negotiation. For small-dollar policies however, the time consumed by the placement process is problematic. If a policy that generates $500 in premium and $75 in commission takes five hours of accumulated time over a three-week period to place, the agency is losing money on the deal. It’s also not a great customer experience. Small business owners have been able to buy their personal auto insurance online for over 20 years. They often don’t understand (rightly, in our view) why they can’t buy a Business Owner’s Policy (BOP) in a matter of minutes.
Briza works with carriers to create digital application forms that once completed return bindable quotes to customers in real time. Send a client a link instead of a PDF, or embed the digital application on your website, and limit your time spent to the expert advice you provide. Briza provides policies from various carriers, but leave it to you, the broker, to choose which insurer products to put in front of your customers.