Posted by Greg Isaacs on November 25, 2011 in Industry
What services does CoverHound Insurance Solutions provide?
CoverHound Insurance Solutions is a full-service personal lines insurance agency. Which means that if a person needs coverage to protect his or her property, we will have a solution. Obviously this includes auto insurance and homeowners insurance, but we will also have the ability to offer excess personal liability protection, flood and earthquake insurance, and coverage for high value items like jewelry and fine art. Down the road we plan to offer solutions for clients needs beyond their property including life and disability coverage, home warranty protection, even medical insurance for household pets.
Can people buy policies directly from CoverHound now?
Not just yet. We are still in the process of staffing up acquiring office space and getting the agency ready to begin operations. While we already have great companies signed on and ready to accept policies. We need to make sure all of the infrastructure is in place, and that the staff is fully trained. We will not sell a policy until we are completely capable of providing world class service to back it up. The agency will start operations in early January 2012.
Will they be able to pay in monthly installments?
Yes, most companies have multiple payment options available including monthly payments. Monthly payments usually require a small down payment, and then equal monthly payments thereafter. Many insurance companies now even provide options for customer to have payments made automatically from a checking account by EFT, or charged to the customer's credit card.
What if the best policy is offered by a provider not represented by CIS?
Our Insurance Advisors will have access to the same policy options presented on CoverHound’s online comparison platform, including those underwritten by carriers not represented by CIS. Our goal is simply to consult consumers on making the best policy decision and facilitating policy initiation. If we can not provide the best policy through CoverHound Insurance Solutions we will assist the client in contacting the partner carrier who offers the better solution. It is also possible the customer already has the best policy with their current company, when that happens we will advise the customer that their best decision is to stay insured where they are. The driving philosophy for CoverHound Insurance Solutions is to do what is right for the customer, sometimes that means advising them not to make a change.
In your opinion, why is CoverHound so exciting for consumers?
CoverHound is exciting on many different levels. This is the first time consumers have been given this much control and transparency into the buying process. They will now have one source that can provide rates from independent agency carriers, direct writers, and captive agents. In addition to seeing the rates directly from the source, they will be provided intelligent recommendations based on their personal situation and needs. For the consumer this is a no brainer. They are completely in control of the process and can make their decision without high pressure sales tactics, or an agent manipulating any of the rating criteria.
For me on the agency side, I can now focus solely on providing world class customer service. By the time we speak with the client they have already seen the quotes and received a recommendation. This means the client has confidence in the decision they are making and we can act solely as and advisor in the buying process, not trying to convince them that we are better than the next guy.
It is also exciting because of the approach we are taking in building the agency. Our Insurance Advisors will not be driven by commissions, they will have the freedom and even be encouraged to refer the client elsewhere when its appropriate. Our sole focus will be doing what is right for the customer. This will allow me to attract incredible talent on the client service team and build the type of corporate culture not typically seen in the insurance industry. All in all the whole thing is very exciting.