HSB Launches InstantQuote for Equipment Breakdown Insurance

March 1, 2004

The Hartford Steam Boiler Inspection and Insurance Company (HSB) announced the launch of HSB InstantQuote, an online tool for quoting and binding equipment breakdown coverage in as little as three minutes.

HSB InstantQuote is designed to provide new business equipment breakdown quotes for small commercial and middle-market firms with individual location values up to $10 million for manufacturing and $20 million for non-manufacturing.

According to HSB, InstantQuote was developed with input from agents who asked that the tool be simple to use, so that no special technical or equipment knowledge is required. They also wanted the system to be smart and automatically recommend a broad coverage program yet give them the flexibility to revise coverage and price to suit the situation. And they wanted the convenience to bind as well as quote online.

HSB estimates that the majority of the types of business it underwrites will be eligible for new business quotes using InstantQuote. If the account requires individual underwriting or has more than 20 locations, the information the agent has inputted online is instantly referred to an HSB underwriter.

Other benefits of using HSB InstantQuote include a live help desk to answer any questions; and an incentive program for agents who bind business using this tool. HSB also helps agents become more familiar with equipment risks for various classes of business by giving them online access to at-a-glance equipment exposure information that illustrates what equipment businesses use, how it can break down, and what breakdowns cost.

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