When Big “I” Markets recently announced its new bicycle program, Big “I” member Karen Knowles of Gallaher Insurance Group was intrigued. In her 25 years in the insurance industry, she'd never even heard of such a program.
Knowles visited multiple local bike shops distributing the customizable flyer and mailed others in a wider geographical area. Shortly thereafter, one of the bike shops referred a potential client her way. He was part of a hard-core cycling team that participates in events around the country—not technically a professional, but his bicycle was worth several thousand dollars. These kinds of owners know quality and want to protect it.
Knowles made quick work of the simple application and her complete submission helped her underwriter return a quote the same day and the policy within an hour. According to Knowles, the level of service was smooth and easy thanks to the underwriter explaining how the program was originally developed for a direct market and how bicycle insurance in Europe includes liability (as does this one). The underwriter provided Knowles with three quotes, enabling her to offer the client a range of options.
Knowles plans to use the program again and is currently working on expanding marketing efforts to include sponsoring both a local Big Tree cycling event and a multisport club event in Columbia, Mo.
The Big “I” Markets bicycle product has been separated from the stand-alone valuable articles product and can now be found under “Bicycle Insurance Program.” It is available to members in all states except AK, Washington, D.C. and HI.