Revolutionizing Policy Transfers: Monoline Introduces SimpleSwitch

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Monoline
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August 22, 2024
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August 22, 2024

 Monoline is thrilled to announce the launch of SimpleSwitch, a revolutionary program designed to transform the way agencies handle the book roll, renewal, and transfer of standalone personal umbrella insurance policies. As a leader in insurance technology, Monoline has developed SimpleSwitch to offer agencies an unparalleled solution that enhances efficiency, accuracy, and client satisfaction, setting a new industry standard in the process.

A Game-Changer for Agencies

SimpleSwitch redefines the traditional renewal process by equipping agencies with a powerful, intuitive dashboard that integrates seamlessly with existing systems. Agencies can now manage all their umbrella policies with ease. By simply uploading a book of business report and existing policy documents into the SimpleSwitch interface, Monoline generates bindable quotes with in-agency transfer discounts (available in participating states), sends automated client communications with proposals and payment links, and downloads final documents directly into the agency management system through Ivans or Webhooks.

This streamlined approach eliminates manual data entry, significantly reduces the risk of errors, and saves valuable time and resources. Agencies that adopt SimpleSwitch can expect a significant boost in operational efficiency and client satisfaction.

Proven Impact and Value Creation

The Impact Sheet provided below highlights the tangible benefits of switching to Monoline using SimpleSwitch. For an agency with a $500,000 book of business, agents can save an average of 2.5 hours per policy, translating to 1,000 hours saved annually for an agency writing 400 policies a year. Over three years, this adds up to a staggering 3,000 hours saved, equivalent to 75 full weeks.

                   

         

This time savings not only allows agents to achieve a healthier work-life balance but also creates additional revenue opportunities. By combining higher commissions, saved time, and increased revenue potential, agencies partnering with Monoline can realize a total value 217% higher than their current revenue on the same book of business.

Leadership Behind the Innovation

SimpleSwitch's success is a testament to Monoline’s commitment to innovation and the expertise of its team. Rachel Crump, Monoline’s Transfer Manager, has played a key role in the program's development, ensuring it meets the real-world needs of agencies and account managers. With her extensive background in personal insurance on both the agency and carrier sides, Rachel has been instrumental in shaping SimpleSwitch into a tool that significantly improves day-to-day operations for agencies.

Monoline Co-Founder and CEO, Ben Phillips, emphasized the program's impact: “The time savings will quickly compound. What would your daily operations look like once you are saving an hour or more per account? We guarantee that our platform will cut the time spent placing standalone personal umbrella policies by at least 50%.”

Rachel Crump added, “For a typical agency with a book size of $500,000, the potential benefits are transformative. SimpleSwitch is designed to make this vision a reality for agencies across the country.”

Partnering for Success

Monoline is eager to partner with agencies to help them unlock the full potential of SimpleSwitch. Agencies interested in exploring SimpleSwitch further can schedule an initial consultation and onboarding session with Rachel Crump. During this process, the Impact Sheet will be customized to demonstrate the specific time and revenue savings your agency can achieve with SimpleSwitch.

With SimpleSwitch, Monoline is not just simplifying processes; it's reshaping the future of personal umbrella insurance book rolls, renewals, and transfers.

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