The Hartford launches digitally-streamlined small business owner’s policy

The Hartford, a US specialist in property and casualty insurance, group benefits and mutual funds, has launched the next generation of its 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.”

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.

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. “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 across the US by early 2020.

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