Charlotte, N.C. - Montgomery Mutual Insurance Co., a Charlotte, N.C.-based member of Liberty Mutual Group, Boston, implemented the Commercial IQ SmartRisk underwriting and pricing system for business owners' policies developed by Liberty Mutual Agency Markets' strategic business unit.After a pilot launch in Maryland yielded a 100% increase in policy issuance, Liberty Mutual made Commercial IQ SmartRisk available to appointed agents for BOP coverage in Delaware, District of Columbia, Georgia, North Carolina and South Carolina, and will be available to Virginia appointed agents this fall.
Commercial IQ SmartRisk's features include:
- Elimination of multiple quotes by providing the best quote the first time.
- An enhanced automated underwriting process that requires fewer referrals.
- A sophisticated competitive pricing system with up to 100 price points.
- Faster new business policy issuance as a result of simplified eligibility criteria.
"This technology significantly improves our agents' ease of doing business and positions Montgomery Insurance as the small commercial solution in the marketplace," says Michael Plavnicky, Montgomery Insurance president and CEO.
Source: Liberty Mutual Group
