Speed to Coverage: Insurance That Won't Slow Your Closings Down

For any entity regularly interacting with or verifying insurance coverages, especially banks, lenders, and fintech companies, the shift toward embedded insurance offers a clear path to revenue diversification that is both timely and accessible. While the goal is obvious: increase speed to coverage, reduce delays, and diversify revenue, the solution is far less clear.

Launching an in-house agency might seem like a self-evident solution. It’s not difficult to do some legal paperwork, hire some producers, and cross-sell some insurance. Right?

The reality is that licensing alone is fraught with a tangle of jurisdiction-by-jurisdiction laws, rules, and regulations.

Once licensing is secured, agencies must also wrestle with carrier access and market volatility. The current property and casualty market is defined by unprecedented structural instability. Increasing loss ratios are causing carriers to decline business in certain states, as well as new appointment requests, making it harder than ever for new agencies to secure appointments. Even existing agency partnerships are being scrutinized by carriers for suitability based on loss ratios, book size, and business lines diversification. 

These challenges inevitably slow down the coverage process, leading to friction and delays for your clients.

Partnering for Resilience

Although the ever-hardening market poses significant challenges for new agencies, there is a simple solution that too many companies overlook: strategic partnership.

By partnering with an established insurance provider and leveraging the JLH framework, you gain:

• Compliance: Partner with JLH and outsource the constant compliance monitoring to the experts, effectively mitigating the regulatory risk
  
  
• Market Access: Partner with a vetted provider and leverage their long-standing carrier relationships. This ensures continuous coverage for your clients through carrier instability and market volatility with no distraction from your core business.

Take control of your transaction so you can close faster, close better, close more. Book a call to learn more about how JLH can help you achieve accelerated and compliant closings.