The Hartford Reinvents The Small Business Owner’s Policy
October 15 2019 - 8:00AM
Business Wire
New digital experience offers agents and small business owners
real-time pricing and customized coverage recommendations
The Hartford has launched the next generation of its
industry-leading Spectrum® Business Owner’s Policy (BOP) that
delivers tailored insurance coverage recommendations, real-time,
transparent pricing and simplified coverage explanations.
“This is more than just a product release,” said Stephanie Bush,
head of Small Commercial and Personal Lines at The Hartford.
“Agents have told us that our business owner’s policy and quoting
system were already the best in the industry, but we saw an
opportunity to offer even more. We’re all consumers and expect
customization and ease in our own digital shopping experiences, and
we believe quoting and buying small business insurance should be
just as effortless.”
Customized recommendations and pricing updates in
real-time
The new policy offers tailored coverage recommendations as the
quote is being built. If there is a question about a recommended
coverage, a pop-up window is available with a simple description
and an explanation for why the coverage is recommended for a
customer’s specific business.
Agents can see the pricing of each coverage selection on the
screen immediately, providing transparency as they move through a
quote – it is an overall process that has not been seen in the
industry.
In addition, the quote proposal and policy documents have been
rebuilt with the customer in mind. They include easy-to-understand
descriptions, intuitive coverage groupings, detailed pricing
explanations and a glossary of terms to ensure small business
owners fully understand their insurance coverage and limits.
“The updated system is user-friendly and demonstrates that The
Hartford listens to its agency partners,” said Amy Binning, account
manager at Horizon Agency, Inc. “The new features enable us to
provide greater customization to our customers. For new agents,
this is especially useful, as they quote clients and educate them
about the protection being provided.”
This next generation of Spectrum is available in 16 states and
will be rolled out nationwide by early 2020. To learn more about
The Hartford’s small business insurance, visit
www.thehartford.com/smallbusiness.
The Hartford has been insuring small business owners for more
than 200 years and was one of the first carriers to create a
dedicated business unit for small commercial more than 30 years
ago. The company, along with its agents, serves more than one
million small business customers.
About The Hartford
The Hartford is a leader in property and casualty insurance,
group benefits and mutual funds. With more than 200 years of
expertise, The Hartford is widely recognized for its service
excellence, sustainability practices, trust and integrity. More
information on the company and its financial performance is
available at https://www.thehartford.com. Follow us on Twitter at
@TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG)
operates through its subsidiaries under the brand name, The
Hartford, and is headquartered in Hartford, Connecticut. For
additional details, please read The Hartford’s legal notice.
HIG-S
Some of the statements in this release may be considered
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. We caution investors that these
forward-looking statements are not guarantees of future
performance, and actual results may differ materially. Investors
should consider the important risks and uncertainties that may
cause actual results to differ. These important risks and
uncertainties include those discussed in our 2018 Annual Report on
Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the
other filings we make with the Securities and Exchange Commission.
We assume no obligation to update this release, which speaks as of
the date issued.
From time to time, The Hartford may use its website and/or
social media outlets, such as Twitter and Facebook, to disseminate
material company information. Financial and other important
information regarding The Hartford is routinely accessible through
and posted on our website at https://ir.thehartford.com, Twitter
account at www.twitter.com/TheHartford_PR and Facebook at
https://facebook.com/thehartford. In addition, you may
automatically receive email alerts and other information about The
Hartford when you enroll your email address by visiting the “Email
Alerts” section at https://ir.thehartford.com.
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Thom Cordeiro 860-547-8426 thomas.cordeiro@thehartford.com
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