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ProSight Direct Offers “Effortless Insurance for Today’s Professional”

Bill Sinn | April 04, 2019

ProSight Specialty Insurance, a leading specialty insurance company, today announced a significant expansion of its ProSight Direct digital platform that makes the insurance experience effortless for today’s professionals. This extensive launch offers over 20 new classes of independent professionals access to customized coverage through a simple online platform, adding to ProSight Direct’s existing offerings for DJs, fitness instructors and wellness specialists. 

ProSight Direct’s platform offers a modern approach to insurance, with custom policies, instant access, and dedicated online support. And, unlike many online commercial insurance brokers, ProSight Direct customers deal with the same company that will take care of their claims, instead of being handed off to another company that doesn’t understand their needs.

“Today’s professional has come to expect an incredible online experience from their financial services providers, but the insurance industry just hasn’t kept up” said Darryl Siry, President of ProSight Direct. “ProSight combines the security and service of a real insurance company with the online capabilities and ease of use of a modern tech company, making the whole experience effortless for our customers.” 

According to Darryl, much attention is paid to the “digital transformation” imperative for carriers or to the disruption created by Insuretechs. ProSight Direct is a perfect example for either storyline. It is a fully digitally enabled insurance business, and it is delivered not by a VC-backed Insurtech but rather an established, profitable specialty insurance carrier.

"Our target market – solo professionals – is a very large ($7B) and underserved market. The average premium size is very small (~$300) so agents are not incentivized to service this market and carriers’ traditional operations are usually too expensive to profitably serve these customers," said Darryl. He added that small business buyers are increasingly looking to buy insurance online. According to Deloitte, 66% of businesses with <$100K of revenue were either “Very Likely” or “Somewhat Likely” to buy insurance direct online (Based on Voice of the Small Commercial Consumer Survey, Deloitte Center for Financial Services, March 2013.)

"ProSight Direct’s end-to-end technology platform enables us to deliver the online insurance experience these customers want at a very low cost to serve since almost every need these customers have can be delivered automatically online with no human involvement," he added. "However, customers can livechat or talk to a licensed customer service representative if they choose."

Few if any commercial carriers or Insuretechs have this end-to-end capability for small business. Most carriers’ online capabilities focus only on quoting and most Insuretechs are not actually an insurance company and therefore can’t provide the full range of service online. For example, ProSight Direct Customers can modify or endorse their policies online 24/7 without having to send an email or pick up the phone.

Small business professionals can get a quote in less than 60 seconds at www.prosightdirect.com. ProSight Direct is teaming up with a growing number of marketing partners to offer access to our platform. To work with ProSight Direct to offer your members or audience an unrivaled insurance product and experience, contact us at partners@prosightdirect.com.

Learn more from ProSight Specialty CEO Joe Beneducci when he keynotes at ITA LIVE 2019 next month in Ft. Lauderdale. Register here: ITA LIVE 2019

 

 

 

 

 

 


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