Benefits to Carriers Partnering with Abacus.net
Abacus.net has a proven track record of enabling insurance carriers to expand their distribution and writings with minimal, if any, overhead. We partner with top-tiered carriers that share our vision of real-time transacting, transparency, objectivity and growth.
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Expanded broker reach
Carriers gain instant access to a nationwide network of more than 2,000 retail insurance broker offices, representing over 5,000 insurance professionals. Brokers are added daily and are generally smaller offices that do not have direct appointments with major carriers. These brokers are an excellent source of new business. They are captive agents major carriers would not otherwise have the ability to reach.
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24/7 real time access to live data
Transactions and their underlying components are completely transparent. If a transaction shows appears in the abacus.net database, the carrier can immediately access the data -- from the rating algorithms, to form assignment, to rules, policy output and applications -- everything that goes into the risk. Risks are audited in numerous ways. Programs are audited in aggregate, per risk or both.
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Advanced automation capabilities
Any report, any data, no problem. Feeds, aggregate monitoring, marketing and more. You name it, abacus.net can report it. And that’s on top of real time quoting, policy issuance, endorsements, etc.
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No comparative rating
Our strict guidelines for carrier selection allow for only top-tiered carriers to partner with abacus.net. Carriers must have excellent forms (developed in conjuntion with Abacus) and competitive rates (based on Abacus market research). Thus, there is no need for comparison rating. The Abacus model adopts and adheres to the position of a single carrier for a specific coverage.
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Complete objectivity
The internal abacus.net controls result in strict adherence to underwriting disciplines and complete objectivity. In the abacus.net model, there are no gray areas. Based on predetermined factors, a risk either fits or does not fit.
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Cross marketing
As the abacus.net program portfolio grows, all Abacus carrier partners reap the rewards of cross marketing opportunities innate to the Abacus model.
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Low loss ratios
Loss ratios produced by business on abacus.net are substantially below industry norms. This is a testament to the strict controls inherent in abacus.net.
Abacus seeks 'A' rated carriers interested in national distribution to supplement our existing program portfolio.
If you represent a national carrier interested in partnership opportunities, contact Darren Lewin, CPA, CMA, CPCU, Vice President of Program Development at (310) 500-2302 or via email, darren.lewin@abacus.net.
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