Hiscox
What payment plans require RPM?
All of them
How do you enroll a customer into RPM?
Record the RPM oral authorization (located in the Sales Aid) and check box.
What 2 things are required when enrolling a customer into RPM?
RPM recording and Survey
How much is the credit card processing fee for a new business policy?
New Business policies will incur a 2.5% CC processing fee
When was GEICO founded? 100 extra points if you can tell me WHO it was founded by
1936- Leo and Lillian Goodwin
How and when do you request a COI? How long does it generally take for the customer to receive it?
Post bind> Manage your policy>Get a certificate>Enter policy# and email. COI takes approx 2-3 hours
What premium requires pay in full?
Premiums under $550 require pay in full, otherwise 11-pay is available.
Name 3 reasons you would need to "submit for approval"
When binding in Liberty Mutual, what do you need to select "No" for?
Is the account premium financed?” no, then select Direct Bill as the billing option.
What payment plan should we offer as primary monthly on a new business policy?
We should offer 5 Pay (33.3% Down)
What Products does Hiscox write?
If Homesite and Biberk are the only options for Garage keepers coverage- which one would you choose and why?
Biberk because they offer Direct primary GKL coverage, whereas Homesite only offers Legal liability which DOES NOT cover physical damage to a customer's vehicle.
What page is the PO statement required to be read?
Primary officer page- where you enter the name of the business owner
What is one of the top reasons a customer calls back to sales for Liberty Mutual?
Prior agent didn't hit "continue" to finalize the bind
What are the recommend coverage for BI, PD, medical? What are the recommended deductibles for comp & collision?
100/300/100
2k medical
500/500 deductibles
What is the new business statement if you sell a Hiscox GL and PL?
“I will now process your payment of [$XX], on your [card/account] ending in [XXXX], to start your GL and PL Policy with Hiscox with an effective date of [effective date].”
What products does Homesite offer in commercial?
100 extra points if you can tell us 3 endorsement options they offer.
BOP, GL, and WC. Endorsement options are cyber, inland marine, and professional liability.
What 3 states DO NOT require RPM?
CA, LA, and VA
Does Liberty Mutual offer Direct primary or legal liability GKL coverage? 100 extra points if you can tell me how to ensure you are quoting the appropriate GKL coverage
Yes- Direct primary- Must add the Garage Custom Protector Endorsement AND check the property box to include business personal property.
What are 2 reasons we can write same day effective coverage?
How do you enter a policy# in AST?
P100.123.123
2 separate sale entries- CP####### & CP#######PL
What is the correct way to enter policy# APG10ABC123456-01 into AST?
APG10ABC123456- No spaces or dashes.
How do you enter a Liberty Mutual sale in AST?
***########- 11 characters long – Starting with three letters followed by 8 numbers.
What is the process for handling suspended licenses?
There are no restrictions for suspended licenses :)