Insurance companies come in all sizes, from large international conglomerates to small local companies. And there are many companies in the small business space, or those offering personal lines, that have done great work building a direct to customer model or creating automated processes.
For larger companies or more specialized commercial lines, though, the industry is dominated by companies with legacy technologies that simply haven’t adapted to the digital age or effectively leveraged modern technologies. At Joyn Insurance, we saw this problem and recognized it as a real opportunity to focus on the small and middle commercial market, which is desperate for the more streamlined and automated processes found in smaller or more specialized lines.
We also saw an opportunity to engineer a tech-enabled company that was built specifically to work cooperatively with agents and producers. As any broker can attest, transacting commercial insurance for your client is a cumbersome process. When brokers submit business to an insurer, it may take days or weeks of waiting, only to find out that the business was too small or too large for a small business platform, or too small for the middle market. What causes a lot of frustration is when a worthwhile piece of business doesn’t get the attention that it deserves.
Joyn solves this problem by bringing the latest automation, data, artificial intelligence, and machine learning technologies to the commercial insurance market. In short, we’ve significantly improved a process that was long overdue for innovation. That means tasks that normally would take days or weeks can now be done instantaneously or within minutes, and accounts can be turned around within a day or two.
We know that nothing is more frustrating than not knowing where your insurance submission is in the process or whether it will be underwritten or denied. Too often, that leads to lost opportunities for brokers and producers. Our underwriting process is transparent, responsive, and fast, using technology to respond to every submission, every time, within 48 hours, empowering broker partners to maximize retention and efficiently manage their business funnel.
We do this because we know the relationship with producers is a valuable one. A transparent, tech-enabled process means that we can create a true partnership with producers, and can move as fast as the producers want to move. Want to make changes to a deductible and get a new quote? We can do that in real time. Want to add and subtract coverages? We can do that quickly too.
In a single phone call with a Joyn underwriter, brokers and producers can get questions answered, tailor coverages, get an updated quote, and get a policy out, all with significantly less back and forth. And because our processes and decision-making are fully transparent, brokers and producers know exactly where they stand.
We built a company designed to be different in all the right ways. That starts with treating brokers and producers like partners. There’s a lot of good we can do together; are you ready to partner us at Joyn?