It’s finally May, and while that means springtime for many, here at NetRate headquarters in Michigan, we are still under Stay Home, Stay Safe orders due the coronavirus pandemic. And, we are still anticipating some snow. But thanks to snow, one thing we adapt to well at NetRate is working from home. Every winter brings a handful of snow days where travel on icy roads prohibits from us driving to the office. Thankfully, all of us are able and ready to work from home, so the stay at home orders, though unusually long, have been an easy adjustment.
During the past several months, we did not see a downturn in activity from our clients. In fact, it was just the opposite. Quote volume is up. That’s one of the interesting aspects of the sudden halt of business in the United States – the pause gave many business owners time to evaluate priorities, sharpen focus, and really devote time to planning ahead.
Our cloud-based software was ready, so that customers working from home didn’t miss a beat.
We saw an uptick in service agreements and new programs being added, new industries being entered, and a few conversations regarding acquisitions of smaller competitors. Increase of activity with the NetRate rating engine tells us our customers may be helping their clients explore coverage changes or testing scenarios for days ahead.
We know our clients in the insurance industry are “financial first responders.” The momentous effect the pandemic will have on the economy may have ripple effects we won’t realize for months, or even years. Will legislative bills pass to require policy exclusions for pandemics to be considered null and void? How will this pandemic affect future business interruption or civil authority disruption coverages?
One thing you can count on is your rating software and its team of developers, QA and support staff. We are here with you, and for you. You can count us to adapt to changes – just like we adapt to snow days. We’ll keep our software secure, and rates current, for the seasons ahead.
Please give us a call at (877) 790-1114 or contact us here to find out how NetRate can provide you with the solutions you need for your insurance business.