Selective System Allows Proactive Quoting of 2.0
Risk Rating 2.0 is a new pricing methodology from FEMA for flood risk. It is designed to better reflect a property's unique flood risk while also making it easier to quote and bind a flood policy.
Throughout the transition to Risk Rating 2.0, Big “I" Flood partner Selective Flood has demonstrated its commitment to superior service, working hand-in-hand with Big "I" member agents to help ensure a smooth renewal transition for existing policies and accurate quoting and binding on new ones. As part of their continued leadership in this transition, Selective is now utilizing their state of the art flood system to make it easy for you to see if your current flood customers with policies rated in the legacy system would benefit from the new rates in 2.0. Please note that making this change will have no impact on the commission you were paid on that policy.
With a few steps in Selective's system, you can now requote your clients before their policy is renewed to see if they would benefit from moving to 2.0. If 2.0 is advantageous, you can move them over seamlessly. If not, the system will save the information and you can proceed to processing the renewal term in 2.0.
Big “I" Flood and Selective are here to support you and our mutual customers. Reach out to the
Selective underwriting team or your dedicated
Selective Territory Manager to learn more today.
Be sure to visit Selective's dedicated Risk Rating 2.0 web site to stay abreast of the latest 2.0 updates, or learn more about Big "I" Flood at www.independentagent.com/Flood.