JAN 3, 2017

Carriers Visiting This Week

The carriers visiting RAIS this week to help us review and rate submissions are listed below. If you have an account you'd like to discuss with carriers, let your Agency Advocate know and we'll set up a conference call. If you'd like to come to RAIS to meet with the carrier, even better - let us know!

Tuesday: Harleysville & The Hanover
Wednesday: None
Thursday: The Hanover
Friday: The Hartford

Insurance Trend Watch: 2016 to 2017

By any account, 2016 was quite the year, notable for many game-changing events across the globe and right here in the U.S.   

The dynamic cultural, business and political climate has had and will continue to have a significant impact on the world of insurance. Start your retrospective review with  6 Minutes of History From 2016

The author says, "At no time in the history of insurance can we find one year that includes this many game-changing events."    We offer a list of links to stories wrapping up key events in 2016, and a look to experts to predict some of the trends we'll be seeing in 2017.   

Personal Auto Rate Change from State Auto
Due to a combined loss ratio of 118% and $24 million lost between 2012-2016, State Auto will be implementing an overall rate increase of 21% on their current (legacy) Personal Auto book. This change is effective 1/26/17 for new business and 3/23/17 for renewals, and is mainly focused on bodily injury coverage. 

In the coming months, State Auto will also be launching a New Portal with several improvements including:
  • A better credit model
  • New underwriting guidelines
  • Vehicle history score
  • Telematics
Please contact your underwriter or marketing representative with any questions or concerns.

Updates from MAPFRE
MA BOP Conversion Updates

MAPFRE will begin converting all MA BOP policies to their new MAPFRE Connect product, starting with policies with 3/1/17 effective dates. Your customers will receive renewal policy documentation approximately 50 days prior to the effective date including the policy, a renewal notice and a formal notice to policyholders.

New Commercial Lines Replacement Cost Estimator

MAPFRE is also introducing ISO/Verisk Insurance Solutions 360 Value® as their new property replacement cost estimating solution. It can be accessed through the MAPFRE Connect policy administration system by clicking "Commercial Processing" from the home page.  Benefits include p re-filled construction information and  360 Virtual Inspection
Please contact your underwriter or marketing representative with any questions or concerns.

Agencies Online Webinar: Live Streaming Video - How Agencies Can Leverage Technology

"Live streaming video is the pathway to building better relationships for insurance agents. It builds engagement with clients and prospects, and helps speed up achieving the 'know, like and trust' scenario. The cost of entry for an insurance agent is no more than having a smart phone. There are numerous mobile apps that bring the live streaming functionality right into the palm of your hand. All you need is a topic or message and the right audience. Depending on what your goal is, social media is a great way to share it and invite people to join in. With Periscope and Facebook Live, to name just a couple, live streaming video is the next technology that can advance your agency operations on multiple levels. "

Click here to check it out!