At Vital Insurance Partners, we understand the competing priorities associated with how you deploy your resources. Speed to market on new product and program offerings is critical and timelines don’t always coincide with available product development staff. Additionally, projects that are key to your strategic planning don’t necessarily require a full-time employee. That’s where Vital Insurance Partners can help. Our goal is to help maximize your product line.
Consulting services and phases of development:
Market Analysis
Identify the most attractive customer segment of a given industry type
Regulatory Analysis
Review industry specific issues related to current regulatory climate as it impacts coverage, risk, and loss control needs, and the necessity for admitted or surplus lines status
Coverage Form Creation
Draft coverage forms for final review or modification by legal counsel or claims management team
Applications
Research and develop custom applications for the exposure. Correct information on risk is critical
Underwriting Audits
Analyze book strength, identify gaps and explore opportunities for growth
Data Compilation
Compile, organize and analyze data and other similar books of business to identify strengths, weaknesses and trends.
Carrier Analysis
Compare policy forms from a variety of carriers to determine your top competitors
Distribution Channels
Explore how similar products are currently being delivered - i.e. retailers, wholesalers, aggregators, etc
Underwriting Guidelines
Create for use with your specific product line
Underwriting Training
Provide materials to educate underwriters
Due Diligence
Comprehensive review of existing books of business for potential acquisition or sale
