Remember that old adage about early birds? Not surprisingly, it rings true even in the insurance business. For example, getting complete information about a potential customer at the beginning of the quoting process — rather than at the point of sale — allows insurance carriers and their independent agents to make intelligent decisions about prospective policyholders from the start. Moreover, agents won't waste time chasing potential customers who don't fit underwriting guidelines.
Insurers adopting a prefill program for policy data are finding great value, according to John E. Cantwell, assistant vice president – marketing at ISO. Cantwell conducted a web seminar, "How to Make Application Prefill Work for You," presented by ISO, Tech Decisions, National Underwriter P&C, and Florida Underwriter.
"Without prefill, most third-party data comes late in the policy process," says Cantwell. "With prefill, we're verifying information at the beginning of the process. It's better for the customer, there are fewer surprises, and that leads to more sales."
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