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About
Omega Insurance Group is a Nebraska-based Independent Insurance Agency that compares carrier companies’ policies on behalf of clients to deliver the best coverage for every need. Their mission is simple: Omega finds a personalized mix of insurance coverage for each customer at the best price available. They take the time and energy to deeply understand a buyer’s requirements and use that information to help them make well-informed, strategic decisions.
Challenge
Omega saw opportunity in more diverse offerings, but needed a carrier to provide the options
The more options an insurance agency offers its clients, the more competitive it can be in the notoriously difficult market. Ryan Sanne, owner and agent at Omega Insurance Group, lives by that commitment: to give his clients the best, most diverse array of choices to protect their assets.
Ryan noticed that traditional carrier companies were automating their risk assessments more frequently, disregarding all the nuance of his business clients' unique situations. A growing number of reasonable risks were being turned down by major carriers, disappointing customers and sending them away to look elsewhere.
For example, real estate investors and landlords struggled to find asset coverage. Most of the biggest carriers won’t write the business if the policyholder doesn’t also maintain primary residence insurance with the same carrier. And the carriers’ automatic assessments limited clients by rejecting applicants with previous claim histories when they requested a new binding quote. Fewer and fewer carriers even considered accepting these or other nuanced risks.
Restrictions like these eliminated too many options for customers, and eventually, they prompted Ryan to search for a solution.
“Not every carrier will hit a home run on every property, so it’s good to have a variety of options. But it’s a tough market where a lot of carriers are just turning down business, which limits the already slim options even more.”
Solution
Steadily equips Omega to quickly give clients a variety of choices
Ryan began researching new insurance solutions and came across Steadily. The more he heard and read from other real-life users, the more hopeful he was about leveraging the tool for his own customer base.
Steadily was more willing to write coverages on reasonable properties — assets that other carriers rejected without deep due diligence. Unlike other carriers, they offered replacement coverage on older properties in good shape, complete roof coverage, and more consideration for policyholders with previous, legitimate claim history.
Ryan appreciated their more sensible, flexible, human approach to writing business on rental and investment properties. He saw that Steadily’s approach to risk acceptance would result in a wider variety of diverse options. Those options would in turn enable better decision-making for both his agency and his clients.
But the variety of options were just the beginning of the benefits Omega realized. With Steadily, the agency untangled previously clunky and slow processes. For example, using Steadily allowed them to get agents newly appointed with substantially less paperwork. They were also able to provide a binding quote to clients in less than five minutes. And when they sent queries to Steadily, they received same-day answers, a quality of support that no other insurance carrier provided.
“Steadily is more discerning in accepting nuanced risk, and quickly. We’re able to run a quote and determine if it's a good fit in two or three minutes. When you're trying to look at a lot of different companies, being able to go through them quickly is important.”
Results
Omega now places more risk in less time, helping them win new business
Real estate investors and landlords need fast, reliable, complete information to make snap decisions on a property’s impact to their cash flows. Now that Omega offers options in a fraction of the time, they’re winning more of those clients than they did before.
Here’s a snapshot of their results so far:
- Cut time-to-quote averages from 10-15 minutes to 2-3
- 300% increase in new rental business within a week of onboarding
As Ryan looks to the future, he’s excited about the increase in new customers for Omega. But he’s even more optimistic about keeping and multiplying the new business. Repeat lines and referrals are common when insurance agencies delight customers, because real estate investors and landlords rarely maintain just one property (or operate alone).