ALEXANDRIA, Va., April 10 - Big “I” Markets, the premier online market-access program developed by the Independent Insurance Agents & Brokers of America (IIABA), has launched a nationwide expansion of three flagship product lines that provide member agents and brokers an opportunity to expand their offerings through a major carrier without volume commitments.
The St. Paul, a founding partner of Big “I” Markets, manages the three product lines previously offered in six states and now available to IIABA members in 39 states.
“This significant expansion in product availability marks the ongoing growth of Big ‘I’ Markets as well as the power of the partnership with The St. Paul,” says Paul A. Buse, CPCU, ARM, president of IIABA’s products and services area—Big “I” Advantage.
The available product lines include St. Paul SelectOneSM for Community Banks; St. Paul 1st ChoiceSM for Real Estate Professionals (errors & omissions insurance); and St. Paul Executive ChoiceSM for Private Companies (includes coverage for director & officers liability, employment practices liability and crime). In addition to an extensive array of coverage options, these portfolios include direct billing to policyholders along with competitive commissions for IIABA agents and brokers.
“Big ‘I’ Markets provides fast and easy access to The St. Paul’s products and makes the submission process easy,” Buse explains. “This winning combination of Big ‘I’ Markets and The St. Paul enables our agents and brokers to compete more effectively in the marketplace.”
Fortune magazine consistently ranks The St. Paul, in business since 1853, as one of the largest U.S. insurance companies. With the consistently high ratings the company receives from independent rating services, including A.M. Best, Moody’s and Standard & Poor’s, The St. Paul also is recognized as one of the strongest carriers in the market today.
The St. Paul’s community bank product line provides state-of-the-art business insurance coverages to community banks, savings banks, savings & loans and credit unions. The St. Paul has been insuring community banks since 1890 and is the nationally recognized provider for the Independent Community Bankers of America (ICBA) and America’s Community Bankers (ACB). The SelectOne portfolio can be tailored to the specific needs of each community bank and credit union.
The St. Paul’s real estate E&O protection has been the rock on which many real estate agents have built their insurance foundation since 1956. 1st Choice for Real Estate Professionals provides coverage for myriad risks facing real estate agents, including certain forms of advertising injury, fair housing discrimination and personal injury.
The St. Paul has long been a leading provider of directors and officers liability and crime insurance. The Executive Choice product line can round out an agency’s inventory of protection and provides access to a profitable niche market.
Agents seeking access to these product portfolios must be members of IIABA. To review underwriting criteria, download sales tools and policy specimens, and submit an online quote request, member agents can log in to the proprietary online system at www.independentagent.com/bigimarkets. Non-IIABA members must submit a Big “I” Markets Registration Kit, which can be downloaded at www.independentagent.com/bigimarkets, to begin quoting business.
Big “I” Markets is revolutionizing the way independent agents and brokers do business, providing them a vital gateway to specialized insurance products and services with no volume commitments or access fees. The program uses technology to bring agents and brokers together with select insurance company partners and their products.
Big “I” Markets makes providing a quote for clients easy and efficient. With highly rated and handpicked insurance providers, a robust product line, detailed underwriting guidelines, streamlined applications, effective sales tools and direct company submissions, Big “I” Markets can help agencies realize explosive revenue potentials.
Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.
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