Worcester, Mass. - The Hanover Insurance Group Inc., a regional property and casualty company has introduced a business owner's policy (BOP) class comparison look-up tool. The tool is designed to help The Hanover's agent partners quickly and efficiently categorize a small business owner's industry classification and obtain a quote for the company's Avenues BOP faster than ever."The new BOP class comparison look-up tool will simplify the quoting process for our agent partners, saving them precious time and helping them achieve even greater productivity," says Marita Zuraitis, president of The Hanover's property and casualty companies. "This tool is yet another example of our commitment to continuous improvement and to deliver on our promise to provide world class products and services, while doing whatever it takes to make it easy for agents to successfully conduct business with us."
The process of classifying a small business for a new policy can be time-consuming because insurance companies often use different classifications names for small businesses. The Hanover's BOP class comparison look-up tool is designed to simplify this process by enabling agents to search for an accurate small business classification using keywords, Standard Industrial Classification (SIC) codes or North American Industry Classification System (NAIC) codes.
When obtaining a quote for The Hanover's Avenues BOP agents can now determine how to classify a small commercial client on the spot.
"The new BOP class comparison tool enables our agency to easily determine whether a risk can be written by The Hanover and if so, whether it would be eligible for a BOP or a package, eliminating a lot of back and forth between agents and underwriters," says Betty Chapin, agency manager for Fred Rhodes and Co. of Houston. "By constantly adding features like the BOP class comparison tool, The Hanover's agent Web site, The Agency Place, continues to be a good resource for our agency."
The BOP class comparison look-up tool was launched to complement The Hanover's fully automated small commercial platform, which the company designed to help agents quote, issue, and endorse BOP, commercial auto, umbrella, and workers' compensation policies online. To further meet the needs of its independent agent partners, The Hanover also provides dedicated small commercial sales managers, who know the local markets and can write and bind small commercial business up to $25,000.
The class comparison look-up tool is available to agent partners on The Hanover's agent resource site, The Agency Place.
Source: The Hanover Insurance Group Inc.
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