Collaboration expands Vertafore's initiative to transform commercial insurance quoting and enhance market connectivity
Denver, CO /PRNewswire/ - Vertafore® announced today The Hanover Insurance Group, Inc. (The Hanover), a leading carrier of property and casualty insurance for businesses and individuals in the United States, is the newest carrier to join its Commercial Submissions™ platform.
The relationship with The Hanover gives independent agents more real-time choices to secure high-quality coverage to meet the needs of their clients. The Hanover plans to integrate their workers' compensation, business owners' policies (BOP) and general liability line into Vertafore's Commercial Submissions.
As the first InsurTech solution that truly connects the end-insured, agents, and carriers, Commercial Submissions enables simplified, real-time quoting on commercial policies of all sizes and business types. The platform integrates seamlessly within Vertafore's agency management systems to solve one of the largest pain points in the insurance industry: the arduous and time-consuming process of quoting and securing commercial insurance coverage. With the addition of The Hanover, eight industry-leading carriers and MGAs have joined the platform.
"The Hanover has led the way when it comes to leveraging InsurTech solutions that make life easier for their agents and clients. We are confident that this partnership will help The Hanover improve profitability and efficiency and free up their bandwidth to win more business and continue to offer the best service for their agents and clients," said James Thom, chief product officer at Vertafore.
The Hanover investing in InsurTech solutions to enable growth
Named one of America's best employers by Forbes six years in a row, The Hanover has been investing in best-in-class solutions, including Vertafore's Commercial Submissions. The use of technological solutions that optimize the workflow for filing commercial lines quotes has allowed the company to streamline processes and improve the user experience for its agents.
Through live collaboration capabilities and real-time data exchanges, Commercial Submissions makes the submissions process fast, easy, and collaborative, allowing agents to quote commercial policies in minutes. The solution pre-fills up to 80% of application fields from the agency's management system. It also enables agents to invite clients to review, change and/or approve quotes in real time, saving time on manual tasks and allowing agents to focus on winning business and servicing clients.
As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying insurance distribution so that our customers can focus on what matters most: people. Vertafore's solutions provide end-to-end connectivity, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies and carriers. For more information about Vertafore, visit www.vertafore.com.
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About The Hanover Insurance Group
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.