Seattle-based Safeco announced it is again expanding the product breadth available on its single-platform online sales center Safeco Now™. In a breakthrough move for small-business insurance sales, the company has introduced functionality allowing independent distributors to quote and issue commercial multi-peril (CMP) policies in as little as five minutes.
The introduction of 96 classes onto Safeco Now is modest compared to the approximately 1,000 classes of packaged business the company offers. More classes will be introduced in 2005. However, the initial rollout contains classes never before covered by Safeco – including home-based businesses, consultants and manufacturers representatives. And it makes Safeco Now (www.safeconow.com) the broadest online property and casualty (P&C) sales platform in the industry, covering businessowners; commercial auto (fleet/non-fleet); workers’ compensation; business umbrella; commercial multi-peril; personal auto; homeowners; and surety.
Each of the products can be quoted and issued in as few as five minutes. Because they reside on the same sales platform, a distributor can seamlessly transfer information from one P/C policy application to another, improving ease of cross-selling.
Independent agents in 13 states received access to the new functionality today. Two more phases of roll out are scheduled for Jan. 25, 2005, and March 22, 2005.
The company also is expanding its small-business coverage eligibility for its Ultra Specialty Services program to $15 million. Previously, accounts with higher than $3 million in annual sales had to be referred to an underwriter.
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