Appointed agents of Montgomery Insurance, a member of Liberty Mutual Group, can now get faster and more precise quotes with the implementation this month of the Commercial IQ SmartRisk underwriting and pricing system for business owners’ policies (BOP).
The company said that after a pilot launch in Maryland yielded a 100 percent increase in policy issuance, Commercial IQ SmartRisk has now been made available to appointed agents for BOP coverage in Delaware, District of Columbia, Georgia, North Carolina, and South Carolina, and will be available to Virginia appointed agents this fall.
Commercial IQ SmartRisk provides immediate industry classification and a streamlined underwriting function.
Commercial IQ SmartRisk’s ease of doing business features include:
• Elimination of multiple quotes by providing the best quote the first time;
• An enhanced automated underwriting process that requires fewer referrals;
• A sophisticated competitive pricing system with up to 100 price points; and
• Faster new business policy issuance as a result of simplified eligibility criteria.
“This technology significantly improves our agents’ ease of doing business and positions Montgomery Insurance as the small commercial solution in the marketplace,” said Michael Plavnicky, Montgomery Insurance president and chief executive officer. “Commercial IQ SmartRisk complements the local decision making and quality customer service that embodies The Montgomery Advantage.”
Headquartered in Charlotte, N.C., Montgomery Insurance operates in Delaware, District of Columbia, Georgia, Maryland, North Carolina, South Carolina, and Virginia with additional offices in Georgia and Maryland.
Montgomery Insurance is part of Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group, consisting of carriers that distribute their products and services primarily through independent agents and brokers.
Source: Montgomery Insurance