Saint Paul, Minnesota-based St. Paul Travelers has announced the rollout of its enhanced Select Accounts platform for small commercial insurance.
The insurance-focused IT company said the improved platform includes new and expanded products and services designed to re-energize the marketplace for agents by making it easier fro them to write small business accounts profitably.
The new platform was revamped with the intent to cover a broader customer base, said Marc Schmittlein, CEO of St. Paul Travelers Select Accounts. By expanding our business classes, deepening our exposure appetite, and strengthening our extensive regional presence, we’re setting a bold, new standard in the industry.
The new products, Master Pac (proprietary composite rated) and Pac Plus (proprietary non-composite rated), feature new program codes, embedded coverages such as equipment breakdown and electronic data processing, coverage options such as expanded business income for specific markets and segments, and coverage extensions.
In addition, Select Accounts has invested in automation and service applications for independent agencies. St. Paul Travelers’ agent web site, Agent HQ, provides access to IENet, a real-time quote issuance system. It also offers e-services such as electronic policy view, direct bill inquiry and loss runs, and an online capabilities guide reflecting regional appetites for small commercial business.
The firm said it has begun the rollout with a live webcast scheduled for March and April and a product guide that specifically outlines the new coverages. The new products will be effective in June.