Expanding Broker Options: QuickFacts Introduces High Value Insurance Comparisons

It is important to grasp the difference between standard retail insurance and high-value coverage, as they cater to distinctly different needs and will be presented separately on our comparisons platform. 

High-value insurance goes beyond ordinary coverage offering specialized protection for high-value assets. These clients have unique needs compared to regular clients, often involving more exposure to liability and requiring coverage for items that a standard homeowner's policy does not address such as homes, antiques, jewelry, collectibles, vehicles, boats, and wine collections, among others.

Additionally, the high-value insurance market is more complex; the underwriting process is more involved and time-consuming, with less information readily available to brokers, since documentation is handled in a significantly different manner than in retail insurance. This complexity and the need for meticulous coverage can be intimidating for new brokers, who must ensure that all potential exposures are comprehensively covered for their high-value clients.

Brokers face a multitude of challenges when catering to High Value clients. The underwriting process is complex and can often create confusion and inefficiencies. At QuickFacts, we identified this gap and took proactive steps to bridge it. By extracting and compiling all relevant High Value underwriting information, we equip brokers with a comprehensive overview at their fingertips. This streamlined approach not only simplifies the underwriting process but also boosts brokers’ confidence, ensuring they can deliver exceptional service efficiently.

Through collaboration with industry experts and listening closely to the feedback of our brokerage partners, we’ve developed a solution that enhances the overall experience of clients, as their broker saves significant time using QuickFacts. With over 55% of our brokerage partners currently handling High Value clientele, we understand the importance of providing tailored solutions that meet the demands of today’s market. Our commitment to continuous improvement drives us to evolve and adapt to the ever-changing landscape of the insurance industry.