HSB Launches InstantQuote
NU Online News Service, Feb. 26, 1:30 p.m. EST?The Hartford Steam Boiler Inspection and Insurance Company has announced the launch of HSB InstantQuote, an online tool that provides a way to quote and bind business equipment breakdown coverage "in as little as three minutes."[@@]
According to Hartford-based HSB, it is the first insurer to offer a Web-based quoting tool for monoline equipment breakdown policies. InstantQuote is designed to provide new business equipment and machine breakdown quotes for small commercial and middle-market firms with individual location values up to $10 million for manufacturing and $20 million for non-manufacturing.
"With the widespread use of sensitive technologies in most of the equipment used by business, there is a universal need for equipment breakdown coverage," said Anthony J. Trivella, HSB senior vice president and chief marketing officer. "HSB InstantQuote is a simple-to-use, secure, fast service that is available 24/7."
He added that the service would "dramatically" reduce time and handling costs, "making offering equipment breakdown insurance faster and more profitable for our agents."
HSB said it estimates that the majority of the types of business it underwrites will be eligible for new business quotes using InstantQuote. Benefits include a live help desk to answer questions and an incentive program for agents who bind business using the tool.
"HSB also helps agents become more familiar with equipment risks for various classes of business by giving them online access to at-a-glance equipment exposure information," the company said.
HSB is a global specialty insurer and reinsurer. An animated demo of InstantQuote can be viewed at www.hsb.com.
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