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SOURCE National Association of Professional Insurance Agents
New Service Available Exclusively to PIA Members
WASHINGTON, June 5, 2014 /PRNewswire-USNewswire/ -- The National Association of Professional Insurance Agents (PIA) today announced the formation of a groundbreaking partnership with Floodbroker.com which promises to change the way that agents sell flood insurance. Through PIA's exclusive partnership with Floodbroker, PIA members' clients and prospects will be able to learn about their flood risks and request a quote for flood insurance.
Floodbroker has automated the process of obtaining a flood insurance quote through the National Flood Insurance Program (NFIP) and makes this technology available to participating PIA member agents through their very own agency-branded, flood insurance microsites. Agents direct their clients and prospective insureds to their microsite where they can learn what flood zone they are in and request a flood insurance quote. After answering a few simple questions the quote is emailed to their agent, who completes the sale offline using their agency's regular flood insurance carrier.
"Over the past few years many communities throughout America have been devastated by floods, yet many still do not realize that typical homeowners and commercial insurance policies do not protect them against this type of natural disaster," said PIA National President John G. Lee. "PIA wants to educate property owners and make it as easy as possible for agents to sell flood insurance so that more Americans will purchase this important coverage."
Floodbroker's flood zone database tracks with the Federal Emergency Management Agency's digital flood insurance rate maps (DFIRMs). While many people using an agency's Floodbroker microsite can receive an NFIP quote simply by answering the online questions, there are communities around the country that are not yet digitally mapped. In those situations the Floodbroker system will not be able to generate the final quote. In that case - or if all of the form's questions cannot be answered - the individual completing the online form can still submit the information they have input into the form so that their agent can get back to them. That information is emailed to their agent so that he or she can follow up and continue the flood insurance sale.
"As an independent insurance agent myself, I have long noted the lack of flood insurance sales by many agents," said Evan Spindelman, president of Floodbroker.com. "Floodbroker can help agents tap the tremendous flood sales potential that lies within their current book of business, rounding accounts and improving their agency's retention rate. Promoting an agency's Floodbroker website may also potentially reduce an agency's errors and omissions exposure when it comes to flood insurance."
"Many property owners believe that they could never be struck by a flood because they don't live in a flood prone area," said Alexi Papandon, vice president of marketing and affiliate relations for PIA. "What they don't realize is that 20% of flood insurance claims originate in low to moderate risk areas."
"Floodbroker gives PIA members an excellent opportunity to protect property owners in their communities while generating substantial revenue for their agencies," said PIA National Executive Vice President & CEO Mike Becker. "Plus it gives PIA members a real point of differentiation as this tool is not available to other independent agents, captive agents or direct writers."
For more information about PIA's program with Floodbroker.com, please visit PIA's website at www.pianet.com/floodbroker.
Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses. PIA members are Local Agents Serving Main Street America SM. PIA's web address is www.pianet.com.
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