Cyber Market Available
Offer Cyber Coverage to Every Small Business
Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. Are you getting a piece of this market with your customers?
Through Big "I" Markets, you can access a cyber liability solution to offer to your small business clients.
About the Product:
- It designed for businesses with up to 50 employees, or less than $20 million in annual sales.
- It's underwritten by insurance company subsidiaries or affiliates of American International Group, Inc. (AIG) and is rated "A" by AM Best.
- No application is required—just a signed acknowledgment.
- There is a $100,000 limit with $200 annual premium.
- Earn 15% Commission
- Direct Bill
Why should you offer it?
Because every business collects personal identifiable information (PII) like email addresses, phone numbers, credit card information and more—and all of it creates a cyber liability exposure.
How to Market Cyber
At the very least, email every small business in your client roster to offer coverage. We provide a concise sample letter you can download that quickly outlines the product. You can even mail the letter via snail mail, or use it as a reason to check in with a call or personal visit—or both!
A Simpler Sales Process
Binding could not be easier.
Log in to Big "I" Markets, select Cyber Liability – Small Business Solution and provide a customer email address in the quote request function. Big "I" Markets takes care of the rest, collecting the application and $200 via credit card directly from the customer, then paying you.
The policy and certificate are available 24-48 hours after the payment has been processed. We post a signed application on Big "I" Markets, and a dedicated webpage is available for you to print the certificate and policy.
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Document, document, document! After sending your initial marketing letter, ask for a signed declination via DocuSign. We created a sample form you can customize with your agency name. If your client doesn't return the form, use a DocuSign message to document that you sent the offer.