Construction General Liability Insurance: Quote & Bind Fast with ISC

No Accords. No email chains. No waiting on an underwriter to open your submission. On ISC's OMGA platform, a construction GL quote can go from a class code to a bound policy in one sitting, and the platform itself is always free to use.

In this episode, Ryan Janicki, VP of ISC's Construction division, gives a full walkthrough of quoting and binding on OMGA: choosing between the Standard, Plus, and Advantage GL programs, layering on Builders Risk, Tools & Equipment, or ISC's newly launched Environmental program within the same application, and adding excess up to $5 million. He shows exactly how a submission moves from quick quote to automated approval (or a live underwriting review, if it falls outside the automated box) to a fully bound policy with e-signature through DocuSign.

Also touched on: the difference in eligibility and buyback requirements between Standard, Plus, and Advantage; how commission is handled when a policy is financed; live chat and phone access to 16 in-house underwriters; and what's coming next, including a direct-bill option targeted for Q3.

Want to see how fast a construction submission can move from quote to bind? Check out ISC's Construction Program and get started on OMGA.

Learn more about ISC's programs at iscmga.com.

Ready to write more business? Get appointed today for fast quotes, dedicated underwriting support, and access to programs your clients need— call (760) 599-7242 or visit iscmga.com/get-appointed. 

Transcript

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Speaker 0:00

Thank you, Diana. All right, let's get going. as, Diana said, I am the VP for our construction division here at, ISC. I'm gonna do a walkthrough of our system to show you how the quoting process goes, show you a bound policy, and then what an approved quote looks like. here we go. All right, so you should be seeing our OMJ platform. on the left hand side, you'll see our different programs available. the three different GL programs would be found under the gl, tab. Then we have our excess liability, which has to go over our general liability. We offer that through ISC through our excess over everything. we launched a new environmental program as well. you can, quote tools and equipment for your ca client, and this will cover his, you know, heavy equipment up to in his, hand tools. Also we offer a builders risk program, which is right here. it was asked last, session that we had someone wanted to quote the builder's risk plus the general liability. I'm gonna show you how to get both in one, but if you do just builder's risk, it wouldn't give you the option to do the gl. But let's get started. So, the three different programs we have here at ISC is our standard Plus and Advantage. If you click on the compare coverages, it gives you a gist of what the three different programs have, and the territories that we're in, which were available in all 50 states for all three programs. standard is gonna be where I'm gonna be starting. This is what we would call our a la carte program, where you'll see as I get through this test quote. where you would be adding in some of the buybacks, which is excluded coverage, but if they are doing it, your client, you can purchase it at a, at a rate increase So let's get this going

Speaker 2 1:53

and hopefully this will speed up.

Speaker 1:55

There we go. simply by, going into this again, just click the standard, it opens up our quick quote information. You'll have to keystroke some, fields to generate a quote if they have employees. we don't include the owners, payroll. anything additional to the owner, you would just select, Add on to the, employee. They'll give you your payroll bracket, select that there years in business, we can take new ventures, for all class codes in our standard program. if you were doing that builder's risk mentioned earlier. You would select the premise only, but for this, we're just gonna do a straight rate on a class code, and this is the class codes that we offer for our standard program. It's going to give you everything we offer, for this program. all of them are listed here, and we take new ventures for all the class codes we offer. if you wanted to quote, a gc, you would simply come in here. It automatically pre-fills it to a hundred percent. You would select the program you want. The A rated is our recurrence version, and the claims made is a discounted rate. if you needed to change and add additional class codes, so say this is a GC that does, 50 50 commercial and residential, you just change the percentage here. It gives you the dropdown again, you'd be able to, select the additional class code. If you needed to add more class codes, you would simply repeat that process, additional class codes would be, available to select. it defaults at our 1 1 1 limit. And goes as low as a hundred thousand across the board up to a 1, 2, 2 if they need anything higher, you would select the 1, 2, 2 and start the excess process, which I'll show you at the bottom. This little plus sign will drop in the fire Legal MedPay for this program. The max is a hundred K. And then 10 K for MedPay. the plus an advantage, we can go up to the 300 K limit per file legal. So if you have a client needing that requirement, you would want to use our plus our advantage. SIR is right here, the effective date. if they did additional states, so if it's California and they wanted to go into Arizona. simply select the additional states that they're gonna be working in. if they're not doing it, then you would just take it on, these are just banners to indicate those additional programs that I showed you here on the left. let's say your client is wanting to move forward, with this quote because, it's a fair price and you're ready to move forward, then you would get into the additional application. this is where we, Have the a la carte. you'll have your AI endorsements at the top, but then you have additional buybacks available through this program. So if they are gonna be working on a school, a hospital, or exterior contractor going above three stories, working on residential homes of 5,000 square feet or more. these are some of the different buybacks that we offer through our, standard program. as you go through here, you'll see it's pretty easy. So these three, finance agreements that you see listed here, if you selected one of those, it would generate within our app packet. with this being a demo site, we're not set up with the finance agreement, so I can't really select them to kind of show you what it looked like, but it would just be your standard PFA that you would receive from any, Finance company. and then you just continue to go through this. It's your, company information. we do have a standardized description If it's not meeting everything that your contractor's doing, you can select no and then put in a custom description. It's gonna give you this message. And this message is basically indicating that we do have an automated system. if the contractor fits within the box of what our automated. System can handle, you would be able to get an incident approval, which would then allow you to permit or, send that over to your client. If they sign it through our e-sign feature, which we'd use, DocuSign and they sign through that, it'll automatically upload. You hit request the bind. It would bind instantly. So there's actually options through this program on iscs platform where you won't have to engage with anyone on my team. but if needed you'd simply put in your custom description. Any custom description has to come through an underwriter on my team. So just, it's a little bit of a, a delay, but right now we're turning quotes back within five to 10 minutes, so not a long wait. if you decide not to, you can just go backwards. Some of the, additional questions you'll need to complete is just the interior, exterior. in depth wheel grade, your standardized kind of questions. If they're not doing any of this work, they're just defaulted to know as you need to. You could select them over. and then basically at the bottom, if you needed to add additional coverages that we offer through our platform, you can simply add the excess. It's gonna give you a little indication that you're gonna need to add some additional endorsements. You would just hit accept, and then you can select the excess that we offer, which we do go up to the 5 million limit. So 1 million up to five. If you didn't want that, you can just simply switch it back to no. same goes with our Inland Marine. If you needed to add the Inland Marine to this, you would just go in here, add your inland Marine. We have. Four different, options if you hover over, you'll get a kind of cliff note of what each one does. This is miscellaneous tools. nothing valued over a thousand. This is if they have a commercial office location, we can get some office content in there. Various, we'll give you all the different options that you can add in to our Inland Marine, and then if they're just leasing, renting, equipment, we have that available as well. And then here's where you, if you wanted to do, general liability with our builder's risk, you would add it right here and this would give you the builder's risk, application that you would complete. as I mentioned, we just recently launched our environmental program. You can select this here. If you do it is gonna take you to a completely different app ID for the environmental side of it. if you needed to add something, you can just simply add it here and it would create a secondary app id. Okay. And I will show you now our plus. So remember, the standard had that section of buyback endorsements. The plus program is basically our mid-tier program where we took all the buybacks that we have available for standard and just include them. for all the plus programs. you would just simply go through your test here. as you'll see right down here, those buybacks are now gone because again, they are included with our plus. The one thing I did wanna show, you all when you're doing this, we do have different requirements for our Plus and Advantage to where if they are new ventures, we can take 'em, but as you'll see here, you'll get a limited. Class code list, so you won't see the GC class codes, the roofing class codes. If you do have someone that wants the plus, that qualifies for it. Is doing the higher risk. There is a minimum requirement of three years in business with continuous coverage. All programs, we wanna see five years experience. The experience doesn't have to be specific to the class code. So it's construction experience. some people. Put in lower experience 'cause they might be just getting into their own, profession But if you do the three years in business, you'll see this class code, list expands into higher risk classes, such as the roofing, roofing class code, GC class codes, plumbing class codes. So, It's basically the same kind of process as with the standard. You complete this first section get your price indication and then complete the application which is almost identical to the other programs. There are a few additional questions on the Plus and Advantage. You can add the additional programs right at the bottom. Let's jump into your landing page. So as you guys quote with us, this is your home button. It gives you the progress of these apps. as you're working on it, approval requested, it's over on my side of the team. If the system doesn't auto approve it, if you get an approved quote, it'd pop up here. So this is what an approved quote looks like. you'll see its status is approved. You'll have who the carrier is, the desired effective date. it'll give you the option to upload documents if you need to drop any for us to review, such as loss runs. if it went to wanting to get bound, you would drop your signed, documents right there. This is the way you can interact with my team. You would just, you know, notify the underwriter. Type into a quick little note. Gonna save everything on this right hand side, and then we can have our correspondence. If there is some questions that we might have or you might have, you would type a note and it would get to us. always feel free to pick up the phone. we have 16 underwriters on my team that would be, able to help you and answer any questions over the phone. but if you're a little busy, can't pick up the phone. You can leave a note here. there's also live chat. So if you needed to just chat with us on something, hey, do you guys take a certain type of risk? You would just type it, here. usually it won't say this as a dev site, so it's not showing that we are available, you would simply select the bind team if you're in the binding process or an underwriter if you wanted to see if we have an appetite for your risk and then that's how you'd go through. this is your app packet, which is selected with the financing. to modify it, just hit that modify button. We can jump right back into this edit app and I'll switch it to full pay so I can show you what the app packet looks like.

Speaker 2 11:56

Full pay, requesting it back,

Speaker 12:00

this is our app packet It's going to give you everything you need to have, signed by your client. Also signed by the agent on a few lines. but once this opens up, you'll see the e-sign. That's if you wanted to proceed with our e-sign. this is the way to get your auto bound policy, so if it auto approves use our e-sign. you do it through the DocuSign system, that would qualify for an auto bound policy. this is, just your application, checklist, simple application documents for your client to sign, initial, and it has everything we need to proceed. So you'll have everything there, surplus lines, all that good stuff. Your invoice statement, as you'll see, you get 15% on that total amount. that's, your down payment, which is your commission. So you retain that if it is financed. And then we would just take the finance agreement and your client would pay for the finance, option. lastly, I'm gonna show you what a bound one looks like. this one went through, the whole process got approved, we got it bound, and this is how it's gonna look. instantly you'll have all your policy documents generated here. You can just click on the view to bring it up. This is, the app packet originally, signed by your client. So it's all saved on your policy documents. If you have any additional uploads, you would upload 'em here. another thing that we offer is our projects tab where you can schedule a project if it had one of those buybacks that need to be scheduled for us to review and get it approved, or if you'd need an additional insured scheduled. You just click on this and you can simply schedule an AI by selecting that typing into AI information. Answer a few questions and then request approval, and that would generate in here after we approved it. And yeah, that is the system in a flash. You guys have any questions?

Speaker 2 14:00

All right.

Speaker 14:01

There's no questions. I guess we're wrapping up a little early, giving some time back. here we go.

Speaker 2 14:06

For binding. It can be e-sign or

Speaker 14:08

So yeah, you can use your own e-sign, program that you might have in your agency. the e-sign is just an option for you all to use. but it's not required to bind with us. you can print it out, have signatures, scan it, upload it, we'll take those as well. the reason why you might be getting no payment options for some of the quotes you might have done is for the fact that you didn't have, we'll go back here to this test, is you didn't have one of the programs selected, so you didn't have the occurrence or the claims made. so that is what you would need to do to generate those, finance agreements. So Steve asked for the way we do direct bills. we are currently in the process of, getting that going. I would hope by the end of the third quarter we should have a direct bill option for your clients. if you don't have one of these selected, you wouldn't have the option to do a finance. But once you do have that check mark there on one of the programs, you should get those additional options. they did, record it. I don't know if it's set up to where we have the capability to API into your management system, You can reach out to me directly and I can ask our engineering team. as of right now, there's no switch to do that. if there's any additional questions as you quote, or after, this is over, I'll put my email in here. always feel free to give us a call and you would get a live underwriter, to answer any of your questions.

Speaker 2 15:36

All right.

Speaker 4 15:37

All righty. I think that's all of our questions. If you do have any remaining questions, Ryan Janke inserted his, email address into the chat box, so feel free to. Email him there with, any of your inquiries. Thanks again for joining our webinar today. don't forget to sign up for our future webinars coming up this week and next week, on ISE Wholesale and Marine. We hope to see you there and have a great day, everyone.

Speaker 16:01

Bye. Thank you.