Crump Insurance Services Joins The LexisNexis Insurance Exchange
Insurance Exchange Improves Communication for Brokers with Carriers; Helps Carriers Market Risk Appetite at the Time of Submission
Atlanta, GA - LexisNexis Risk Solutions recently announced that Crump Insurance Services, Inc. (Crump P&C) the Property & Casualty division of Crump Group, Inc. joined the LexisNexis Insurance Exchange. Crump P&C, one of the nation's premier insurance wholesalers elected to become part of the Insurance Exchange to take advantage of membership as a way to reach new or underserved markets and improve collaboration with agents and brokers.
The LexisNexis Insurance Exchange is a business and renewal submission placement platform that enhances the flow of application data between insurance carriers, agents and brokers. Crump will leverage the Insurance Exchange through 5Star Specialty Programs, a full service Managing General Agent (MGA) offering property & casualty insurance underwriting expertise, and its nationwide workers' compensation and commercial auto programs.
"We see the LexisNexis Insurance Exchange as an exciting new distribution channel through which we can better interact with our brokers and reach new retail agents," said Dave Obenauer, President, Crump P&C. "We believe there are endless possibilities by taking advantage of the industry-wide collaborative platform the Insurance Exchange offers. Not only can we inform and interact more effectively with our distribution channel but we can better understand how we can match our product offerings with emerging market needs."
Leading carriers and markets that have been using the Insurance Exchange for the past year have experienced significant advantage from the platform's MarketFinder tool, which injects the carriers' underwriting appetite into the Insurance Exchange workflows for the business agents are looking to place. Market Finder has been able to increase the number of submissions to member markets by significant volumes.
"Crump Insurance Services is on the cutting edge as they look to the Insurance Exchange to provide them with not just more business, but more business appropriate for their areas of expertise," said Peter Lynch, president, LexisNexis Insurance Exchange. "Companies like Crump that join the Insurance Exchange as members, benefit from increasing submissions in their underwriting appetite, keeping agents up-to-date as they select markets for specific opportunities and leveraging their brands in this channel. We look forward to working with Crump Insurance Services and particularly 5Star Specialty Programs to help the business move quickly to make use of the platform's many advantages."
SOURCE: LexisNexis Risk Solutions