Independent Agencies Prefer Real Time Over Carrier Portals 

Recent Survey of Over 3,100 Independent Agents Confirms a Strategic Vision 

The Real Time/Download Campaign was founded to champion the adoption of Real Time and Download for independent insurance agencies and companies. Real Time provides agencies with a consistent workflow through agency management systems or comparative raters when doing business with multiple carriers, rather than having to learn the workflow of each carrier portal and enter data multiple times into these portals.

Some 7,500 independent agents answered a survey on carrier communications in 2006, leading to the campaign’s launch that fall. They said their primary challenge was dealing with “different proprietary company interfaces.” That challenge was followed closely by “duplicate entry,” “multiple IDs and passwords,” and “training agency staff” on different carrier workflows.  

Real Time workflows were designed to ameliorate the challenges created by carrier portals. Today, carrier portals continue to play a role in enhancing some Real Time transactions and in providing additional information to agencies that is not otherwise available. But portals should not be seen by carriers as a substitute for implementing Real Time transactions for the many agencies which prefer to work through their agency management systems and comparative raters.

Vision Confirmed 

Over the past five years, the adoption of Real Time has continued to expand and deliver outstanding benefits to agencies. This confirms our vision that Real Time offers these firms a more efficient and responsive workflow than navigating through various carrier portals. Consider what 3,110 agencies and brokerages told us in the campaign’s latest agency survey, conducted a couple of months ago:

• Fully 63 percent of agency management system users employ real-time rating on comparative raters and management systems to access multiple carriers at once. This represents an increase of six percentage points over a similar 2010 survey.
• The use of real-time rating tools for personal lines saves agencies an estimated 68 minutes per employee per day.
• About three fifths (62 percent) of those using real-time rating also use real-time inquiry and service transactions through management systems, most often for billing, policy and claims inquiries, but also for endorsement processing (55 percent for personal lines, 29 percent for commercial).
• Real-time inquiry and servicing are saving 50 minutes daily for those employees using the functionality, because the real-time tool can enter IDs and passwords automatically. And it can either return the information directly to the management system or navigate precisely to the information on the carrier website.

Moving Forward 

Our industry has an excellent opportunity in 2012 to increase implementation and enhance the benefits being delivered by Real Time to our distribution channel. To encourage more agencies to implement Real Time, the campaign is planning a National Real Time Day on Feb. 29, 2012, during which the campaign, individual vendors, user groups and carriers will hold events to help agency owners and employees fully understand what real-time functionality can do for them. Details for the day will be announced soon.

Independent agency owners are busy people, to be sure. But as we enter a new year, the campaign calls on even more agency leaders to take a step back and examine—desktop to desktop—how employees write and service business. Real Time provides strategic benefits that enhance agency productivity. But there’s more: If principals insist on Real Time as the required workflow for all employees, it promotes consistent workflows across the firm, which simplifies staff training, allows managers to monitor employees’ performance more effectively, increases the security of processing, and creates better transaction records for E&O protection.

Carrier & Vendor Role 

More carriers need to offer Real Time and carriers and vendors should continue to enhance the functionality they provide. Agents clearly told us in our latest survey what further improvements in Real Time they want to see:

• Have additional carriers introduce Real Time.
• Have those carriers offering Real Time provide the full array of real-time functions across the major lines of business, so that agency employees can count on Real Time as a consistent workflow across carriers.
• See vendors and carriers continue to improve the real-time functions they do provide so that the response times are faster.  

To give carriers and vendors a road map for implementing “best practice” real-time workflows—whether they are just starting to build out the functionality or seeking to improve and expand the transactions being provided— the campaign has just completed Agency Real-Time “Best Practice” Workflows & Implementation Strategies.  

In addition, in 2012 ACORD will be developing specifications and implementation guidance to assist the industry in implementing ACORD standards and forms. The campaign also will encourage greater use of real-time transactions and download within the E&S market and for mid-commercial submissions.

About the Campaign 

Launched in 2007, the Real Time/Download Campaign (www.getrealtime.org) is dedicated to improving the competitiveness of the independent agency distribution channel. The campaign isn’t advocating a specific technology, but a workflow approach that frees up more time for agencies to sell, process and service business. Most agents can leverage tools already contained in their agency management systems or comparative raters. 

Campaign participants include agents, brokers, carriers, technology providers, user groups, and agent and industry associations. The campaign is led by industry groups and sponsored financially by ACORD and the ACORD-User Groups Information Exchange (AUGIE); Allied Insurance; Applied Systems; Applied Systems Client Network (ASCnet); Artizan Internet Services; CNA; EMC Insurance Companies; Erie Insurance; Grange Insurance; Harleysville; The Hartford; Independent Insurance Agents & Brokers of America (IIABA) and its Agents Council for Technology (ACT); IVANS; Liberty Mutual Agency Corporation; MetLife Auto & Home; Network of Vertafore Users (NetVU); PIA of New York, New Jersey, Connecticut & New Hampshire; Progressive; Travelers Insurance; Vertafore; and Westfield Insurance. 

¹Real Time is the ability to click on a button from a client file in your agency management system or comparative rater for immediate access to carrier information on that client. The transaction may be a quote, billing inquiry, claim inquiry/loss runs, policy view, endorsements or a request for information. This approach provides a single workflow for servicing or quoting with multiple carriers.

² ACORD User Groups Information Exchange (AUGIE) Agency Technology Survey Executive Summary, 2006, p. 14.

³ Fall, 2011 Survey of 3110 agencies by the Real Time/Download Campaign

⁴ Ibid.

Chubb DecisionPoint Eases Quoting Process for Private Company Clients 

Now there’s an easier way for you to respond to your private company clients’ questions and exceed their expectations: Chubb DecisionPoint.  

Following Chubb DecisionPoint’s streamlined, intuitive online application, you can:

• Enter insurance submissions for Chubb’s professional and management liability coverages in less than five minutes.
• Obtain a real-time quote letter that contains helpful marketing information and a completed application ready for signature.
• Submit a request to bind through our New Business Service.

Chubb DecisionPoint will help you quickly and efficiently quote the following types of policies for private company accounts with these characteristics:

• Employment Practices Liability coverage
  • Up to 500 employees and $500 million in revenue
  • Limits up to $5 million
   
• Crime coverage
  • Up to $100 million in revenue
  • Limits up to $3 million
   
• Fiduciary Liability coverage
  • Up to $25 million in plan assets and $500 million in revenue
  • Limits up to $5 million
   
• Miscellaneous Professional Liability coverage
  • Up to $25 million in professional services revenue
  • Limits up to $5 million  
   

Note: Privately owned organizations for which Chubb DecisionPoint may not be used at this time: healthcare organizations, financial institutions, labor unions, not-for-profit or government/public entities, and companies with any publicly traded securities.

Getting Started 

The best way to learn how you can benefit from Chubb DecisionPoint with your private company business insurance clients is to use it. To get started, simply visit @chubb, log in, and from the menu select the “Professional Liability Quotes” link under the “Process a Policy Transaction” header. A demo is available from your local Chubb underwriter to introduce you to Chubb DecisionPoint for use with private company accounts.

Learn More 

Have questions about accessing either @chubb or ChubbDecisionPoint? Please contact our eBusiness Help Desk at (877) 747-5266 and select option 2, or send an email to ebusinesshelp@chubb.com.

For more information, contact your local Chubb office or visit www.chubb.com.
Copyright © 2010 Chubb Group of Insurance Companies.
Box 1615, Warren, N.J. 07061-1615
All rights reserved. Disclaimer 

Chubb refers to the insurers of The Chubb Group of Insurance Companies. Not all insurers do business in all jurisdictions. This literature is descriptive only. Actual coverage is subject to the language of the policy as issued. Chubb, Box 1615, Warren, NJ 07061-1615.

2012 Super Bowl XLVI and 2012 NetVU Conference – Common Denominator? 

2012 NetVU Conference   *   April 26-28   *   Anaheim, CA   *   Register Now! 

How, exactly, do you get 20,000 employees to deliver an exceptional customer experience? 

You can start by looking to Disney, which is exactly what the NFL’s Super Bowl team is doing in preparation for the big game taking place in Indianapolis in February. As Frank Supovitz, senior vice president of events for the NFL, said to USA Today: “Nobody’s better at it in the world than Disney. You see that any time you go to their theme parks. They’re very customer-oriented.” 

The Disney Institute makes the NetVU Conference a must attend event—and then factor in all the other amazing aspects the conference has to offer! We are bringing relevant educational material to our conference and attending “The NetVU Conference Experience Makes the Difference.” 

“The end goal? Make all Super Bowl fans feel like VIPs,” said Stacey Thomson, global public relations manager, Disney Institute.  

Sagitta System Admin (SSA) is Quickly Approaching...Hurry and Save Your Spot Today 

February 20-24, 2012   *   NetVU National Headquarters   *   Irving, TX   *   Register Now! 

The certification is targeted toward the Sagitta system coordinator in the agency. Topics will include personalization, client services, technical, integration/download, reporting, financial management, payables, receivables, etc. Upon completing the course, the SSA will be able to:

• fully support the various users of the Sagitta system
• be recognized as such when contacting Vertafore Support, and given special consideration

Click here for more information, call (800) 456-7799, or register now.
  

Just a few quotes from previous attendees:

I felt this was one of the best programs I have participated in, and it was extremely valuable to me and to its applicability in our agency. It was a great week and I would highly recommend it to anyone. I think it is a great concept and hope it continues to develop in the future. Thanks again.  It was top notch! The ability to interact during the class, and the informal nature of the class were extremely helpful to me. I felt the diverse nature of our group added to the effectiveness of the class. 

Ms. Patricia C. Robinson, SSA

American Insurance Administrators Inc.

 

The certification will give you the education you need to take care of the day to day operations of the system.  I always enjoy networking with the people that are in the same shoes I am on a day-to-day basis, and hear what they go through and how they resolve issues.  So I think the discussions on the materials helped me out more than anything. 

Ms. Kaye Ladd, SSA

The Crichton Group

 

It gives you a broad look from the IT side and the Management side.  It makes you think outside the box of your normal system management duties. 

Nancy Buszinski, SSA

HDH of Pittsburgh

 

If you want to know the most about the system, and get the little behind the scenes knowledge of the system I would say they really need to take the class. 

Stella Mintz, SSA

AVI Risk Management

 

Wonderful class.  I cannot wait for the next level. 

Shelly Piechotte, SSA

Saginaw Bay Underwriters

NetVU is also pleased to announce the brand new Sagitta Accounting Certification, launching at the NetVU Conference April 26-28, and the AMS360 Account Manager Certification, .Click here to register for NetVU Conference.

Making Download Work For You - Part 1

Wednesday, January 18, 10:30 a.m. Central - Register Now! 

This session will give you the tools and information needed to make download work to your advantage! Come ready to roll up your sleeves, and get "down" and dirty with the details your agency needs to know about Download!   Register Now!  

Five Ways to Enhance Your Website in 2012

Wednesday, January 25, 1:30 p.m. Central - Register Now! 

There is a shift in how people are obtaining information about products and services. They no longer call providers and ask questions, they go to the web. Because of this shift, it is more important than ever to have an effective web presence.