Dimond Bros. Insurance: Innovating Small Commercial Insurance
Dimond Bros. Insurance is Honored for Leadership in Innovation
Vertafore, an InsurTech leader, proudly awarded Dimond Bros. Insurance with the esteemed Power of Partnership Award during their recent annual user conference, recognizing the agency's commitment to advancing small commercial insurance solutions. This award emphasizes the importance of collaboration and innovation within the insurance sector.
The Collaboration That Drove Change
This award highlights how Dimond Bros. Insurance has partnered with Vertafore to tackle one of the industry's persistent challenges—quote processing for small commercial insurance. The partnership aimed to streamline and enhance workflows, making the insurance quoting process faster and more efficient for agencies.
Reimagining Insurance Workflows
By working closely with Vertafore, Dimond Bros. was instrumental in developing new, smarter workflows within the Commercial Submissions™ solution, which is recognized as a top-tier rating tool for small commercial lines. Their expertise helped pinpoint essential lines of coverage, such as Business Owner's Policies (BOP), workers' compensation, and general liability, enabling a more efficient quoting experience.
Significant Time Savings Achieved
This collaboration has yielded impressive results. Vertafore has successfully reduced the classification time for commercial lines from 20 minutes to just two minutes—a staggering decrease by up to 90%. This substantial time-saving showcases the positive impact on thousands of agencies leveraging the Commercial Submissions tool to broaden their commercial lines business.
A Voice of Experience
Candee Lawrence, the vice president of commercial lines service at Dimond Bros., emphasized the advantages of Commercial Submissions in responding to market needs swiftly. "The Vertafore team really partnered with us to understand the challenges faced by agencies. The advancements we're experiencing are transformative, not just for us, but for the entire landscape of commercial lines agencies."
A Legacy of Service
With over 150 years of experience, Dimond Bros. Insurance is celebrated for providing tailored insurance solutions to individuals, businesses, and government entities. Founded in 1867, it has become one of the largest independent insurance agencies in the Midwest, dedicating itself to helping clients navigate their diverse insurance needs effectively.
A Future Defined by Technology
Vertafore's chief product officer, James Thom, commended Dimond Bros. for their vital role in reshaping small commercial quoting with technology. Their dedication to innovation and collaboration is pivotal in moving the industry forward and improving the insurance experience for all stakeholders.
Showcasing the Latest in InsurTech
Participants in the insurance industry can explore the latest trends and innovations at Accelerate, the premier technology conference hosted by Vertafore. This event is tailored to showcase cutting-edge advancements and foster connections among industry professionals.
About Vertafore
As North America’s leading InsurTech company, Vertafore is dedicated to simplifying and automating the insurance lifecycle. Their focus is on empowering independent agents, managing general agents (MGAs), and carriers to enhance their operational efficiencies. With solutions that drive innovations for insurance clients of all sizes, Vertafore stands out in its commitment to service and excellence.
Frequently Asked Questions
What is the Power of Partnership Award?
The Power of Partnership Award recognizes agencies that demonstrate exceptional collaboration and innovation within the insurance technology landscape.
How has Dimond Bros. Insurance impacted commercial quoting?
Dimond Bros. Insurance has collaborated with Vertafore to significantly reduce the quoting time for small commercial insurance, achieving greater efficiency.
What changes have been implemented with Commercial Submissions?
New workflows have been built within Commercial Submissions to enhance the quoting process, particularly for essential business lines.
Why is this award important for Dimond Bros. Insurance?
This award acknowledges Dimond Bros.’ leadership and contributions to advancing technology solutions in the commercial insurance sector.
Where can I learn more about Vertafore's offerings?
For more information about Vertafore and their solutions, you can visit their website.
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