Dear Insurance Journal,
Web sites don’t read your periodical. Agents do.
Does this site point out the potential consequences of adding an additional insured? Or even the difference between needing proof of insurance (certificate) vs. being an additional insured? Will it give the user the ability to add special wording to the cert? Uh oh, heads up to contractors. …..
These are BOP policies… they probably already have some sort of blanket AI wording that covers 90% of the requests out there. But the average business owner (and agent for that matter) isn’t savvy enough to understand that. For the rest of the 10% the request can go through the agent/underwriter channel as is currently normal. You don’t resist an operations change because 10% of request don’t fit the mold… Like it or not the insurance industry will change in the next 5,10,15 years with more and more tasks being automated and the experience shifting more towards the insureds and speed/ease of use. The next generation of successful agents need to find different ways to add value.
This is disturbing. Insurance, especially commercial coverage’s complex and the terms, conditions, exclusions, endorsements need to be explained. Lienholders need to be addressed. The list goes on and on. People are going to damaged by this, lawsuits will abound.
Correct Lou. The IJ continues to push start ups and direct to consumers who are so looney and distracted, I am sure they will know exactly what to do. We will be reading reports of lawsuits galore against this company. Cannot change the terms and conditions of an insurance policy and fake certificates will abound.
Dear Insurance Journal,
Web sites don’t read your periodical. Agents do.
Does this site point out the potential consequences of adding an additional insured? Or even the difference between needing proof of insurance (certificate) vs. being an additional insured? Will it give the user the ability to add special wording to the cert? Uh oh, heads up to contractors. …..
These are BOP policies… they probably already have some sort of blanket AI wording that covers 90% of the requests out there. But the average business owner (and agent for that matter) isn’t savvy enough to understand that. For the rest of the 10% the request can go through the agent/underwriter channel as is currently normal. You don’t resist an operations change because 10% of request don’t fit the mold… Like it or not the insurance industry will change in the next 5,10,15 years with more and more tasks being automated and the experience shifting more towards the insureds and speed/ease of use. The next generation of successful agents need to find different ways to add value.
This is disturbing. Insurance, especially commercial coverage’s complex and the terms, conditions, exclusions, endorsements need to be explained. Lienholders need to be addressed. The list goes on and on. People are going to damaged by this, lawsuits will abound.
Correct Lou. The IJ continues to push start ups and direct to consumers who are so looney and distracted, I am sure they will know exactly what to do. We will be reading reports of lawsuits galore against this company. Cannot change the terms and conditions of an insurance policy and fake certificates will abound.