In the face of the most challenging insurance market in decades, the impact is being felt by insurance carriers, consumers, and business owners alike. With rising rates, non-renewals, and increasing difficulty in securing coverage, the landscape has drastically changed.
Amid these challenges, New York-based financial services company, Bond, is quietly forging a path forward, delivering innovative solutions to help clients reduce insurance rates.
Moving Beyond Price Shopping
Price shopping, a common practice among insurance brokers, often falls short in a hard market. Bond is pioneering an innovative, more proactive approach that centers on risk mitigation and negotiation to secure favorable rates for its clients.
Bond’s team of underwriters has deep-rooted experience working for insurance carriers and now offers their insights to you.
“Instead of relying on luck by approaching numerous carriers, our technology enables us to pinpoint the carrier that is most interested in a particular industry and client profile. Our underwriters, who possess decades of carrier experience, know how to secure more favorable pricing and assist our clients in implementing strategies that result in better rates,” says Igor Gasanov, Co-founder and CEO at Bond.
Anticipating Industry Changes
The insurance industry is on the brink of a significant shift, with half of its workforce expected to retire within the next decade. In preparation for this transition, Bond is actively addressing the limitations faced by clients, developing customized solutions, and surpassing the conventional scope of work offered by insurance agents.
Bond is creating an ecosystem that fosters collaboration among professionals, enabling them to provide clients with a comprehensive experience without the need to engage multiple parties for each transaction.
Their initial focus is on assisting realtors in expanding their range of services, generating new revenue streams, and, most importantly, delivering substantially more value to their clients.
Specialization in Commercial Insurance
Bond’s primary focus is commercial insurance, with a strong presence in the construction, real estate, and transportation industries. They go beyond simply providing a policy at a competitive price. Bond assists in establishing comprehensive insurance requirements, ensuring coverage for all parties involved, from vendors to tenants.
Bond hires specialists with decades of experience in each sector they serve, equipping them with the technology to deliver maximum value for their clients.
Value-Added Services without Extra Costs
Unlike many insurance brokers, Bond doesn’t see services like vendor vetting, risk management, and servicing as opportunities for additional charges. Instead, they view them as integral components of their service, a responsibility they willingly take on to bring clients peace of mind.
“We’ve just secured coverage for a development in Brooklyn and managed to save our client $310K, even while competing against one of the top brokers in the country. Big brokerages have significant overhead, which is why most don’t prioritize competing on price while also charging clients for services that should be standard,” says Gasanov.
Bond invites you to try their service with a complimentary policy review and risk assessment without any obligations or fees.
Bringing Hospitality to Financial Services
Bond’s customer-centric approach is demonstrated by its all-in-one service, allowing clients to manage their insurance and financial needs in one place.
As Bond continues to grow, they plan to expand their services further. Currently, they assist with personal insurance, commercial insurance, risk management, compliance, payment processing, and financing.
“We envision a world where business owners can manage everything with us: insurance, financing, payroll, group benefits, compliance, payment processing, banking, and more. By comparing providers for every service, our clients gain peace of mind and can focus on the aspects of their business they love. We’ll handle the rest.” says Gasanov.
You can learn more by visiting www.trybond.com