Ebroker and Insurance Strategy | Ebroker

Buying business insurance can be a daunting task. No one ever said buying insurance was a “happy time.” We totally get it.

After all, there are many things to consider when it comes to insuring your business. What things should you get? Which company offers the best service? Who has the best price?

The good news is that several companies offer insurance specifically for small businesses. One of these companies is Insureon, which has become popular as a business insurance marketplace. Looking for an Insureon alternative? Ebroker has quickly become a leader small business insurance. Both are insurtech brokerages that focus on the insurance industry, but they differ in what they offer to businesses.

To help you make an informed decision about insurance for your business, we take a look at how Embroker and Insurance work together.

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Embroker vs. Insureon: Slow

availability:

  • Ebroker: Worldwide
  • Insureon: Worldwide

Established:

  • Founder: 2015
  • Insurance: 2011

Customer service:

  • Operators: Phone, Email, Chat (24/7)
  • Insureon: Phone, Email, Chat (Monday-Friday)

Online reviews:

  • Ebroker: Yes
  • Insurance: Yes

Help with Requirements:

  • Ebroker: Yes
  • Insureon: No

Personal Property:

  • Ebroker: Yes
  • Insureon: No

What You Need to Know Create an Insurance Alternative

Although he may be the “new kid” on commercial insurance block, Embroker has made a name for itself since its launch in 2015. In fact, Embroker has been named one of the experts who change the future of finance by Goldman Sachs and one of the most trusted afintech companies in the world by CB Insights. .

Embroker’s mission is to make it easy for business owners to find the best insurance at the best price. To achieve this, Embroker works closely with leading insurance companies to provide exceptional protection for businesses, including “hard to live” industries such as crypto, cannabis, and aviation.

What You Need to Know About Insureon

Founded in 2011, Insureon is an online insurance marketplace for small businesses in a variety of industries – from construction, consulting, healthcare to IT, landscaping, and restaurants.

Insureon’s digital platform allows customers to shop, compare policies, and manage their information online. Insureon claims that 80% of businesses can receive an insurance certificate within a few hours of starting the application process.

Embroker vs. Insureon: Commercial Insurance

Embroker and Insureon offer a variety of policies to address a variety of business risks.

Both companies offer the following policies:

  • General Liability: Insurance to protect businesses from third party injury and property damage.
  • Errors & Omissions (Professional): Protects service providers from claims of wrongdoing or negligence.
  • Employee Compensation: This policy covers short term and long term expenses for work related injuries or illnesses.
  • Cyber ​​Liability: Covers costs related to data breaches and other cyber crimes.
  • Technical Errors & Omissions: Importance of claims of errors or failures of technology or services.
  • Directors & Employees: A type of insurance that covers directors and officers of a company in cases of breach of duty.
  • Commercial Property: This policy provides financial assistance if business assets (buildings, furniture, goods etc.) are lost or stolen.
  • Job Ethical Responsibilities: Covering work-related cases, such as discrimination, sexual harassmentwrongful termination, and revenge.
  • Business Owner Policy: In Insureon, this bundle includes both loans and commercial properties. Embroker’s policy includes general credit, commercial property, and business interruption insurance.
  • Business Disruption: Usually with other policies, this insurance helps the business to replace the lost income and other damages if it is needed to close temporarily.
  • Commercial Crime: Business insurance helps businesses with losses related to employee theft, fraud, fraud, and more.
  • Commercial Umbrellas: This study applies when the insurance limit is over.
  • Commercial Auto: Insures business vehicles (owned and leased) and pays for repairs and maintenance.
  • Liability: This policy is for businesses that manufacture and sell products, providing cover for claims related to product damage and defects.
  • Surety Bonds: Security bonds protect business owners if something does not allow them to meet their expectations during the course of the project.
  • Builders Risk: For construction companies and contractors, this policy protects buildings under construction from fire, vandalism, weather damage, etc.

In addition, Insureon and Ebroker have special insurance. With Insureon, customers can get special insurance quotes and drink loans.

At Embroker, there are additional products designed for specific industries and managing specific risks:

Embroker vs. Insureon: Financial Stability

It may not be at the top of the list of many things to consider when buying insurance, but the financial stability of the company is very important and gives a good indication of the insurance company’s history.

Fortunately, all of Ebroker’s digital insurance products are fully backed by A+ AM top-rated companies, including Munich Re and Everest Re. And Insureon, which was acquired by Hub International in March 2022, only sells policies from carriers with ratings of A or higher from AM Best.

AM Best is a global insurance company that has financial strength in the insurance industry. The higher the value, the more the company can pay off debt.

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Embroker vs. Insurance: Insurance Claims

No one likes to think about paying an insurance claim, but knowing about the policy can save a lot of headaches and frustration down the road.

Since Insureon is an insurance marketplace, they do not handle claims. Instead, policyholders are advised to contact their insurance agent or service provider to initiate a claim.

At Embroker, we recognize this to explain the case can be overwhelming, so we’ve made it easy to start the process online and provide a detailed overview of what’s involved. Each of the policyholders has a broker who provides support throughout the period. In addition, policyholders receive real-time updates on information through their account dashboard, so they know what’s going on at all times.

Embroker vs. Insureon: Insurance Reviews

When shopping for insurance, it goes without saying that getting quotes is an important part of the process. Of course, you want to compare quotes to see who can provide the best service at the cheapest prices. And since Ebroker and Insureon are insurtech companies, it’s no surprise that they both offer online underwriting.

Embroker and Insureon make it easy and simple to get quotes, which can take a few minutes to complete. Additionally, both can provide business owners with legal advice and licensed professionals to advise on specific needs.

Ebroker vs. Insureon: Customer Service

Getting help when you need it is essential to running a business. And we all know there’s no such thing as working a 9 to 5 job when you’re running your own business. This is why Ebroker has 24/7 support and can be reached anytime by phone, email, or live chat. In addition, policyholders get an account manager to take care of their insurance needs.

Insureon also has customer service available by phone, email, or live chat. However, their support is available from 8 am to 5:30 pm CT Monday through Friday.

Ebroker vs. Insureon: Price

We saved the best for last: the price. Cost is always a good consideration when it comes to insurance. As with any insurance company, the cost of financing from Ebroker and Insureon will depend on factors such as industry, business size, location, cost, type of policy, and coverage limits.

Since Insureon works with different carriers to provide insurance products, the price depends on the selected provider. However, Insureon indicates that the credit plan costs an average of $42 per month for its customers, and the business owner plan costs $53 per month.

With Ebroker, business owners can use a Basic Package Calculator to find out how much the insurance will cost even before receiving a price. And thanks to Embroker’s suite of proprietary products, business owners can save up to 20% on their fees.

Down Under

Purchasing insurance that can meet your company’s growing needs is critical to the success and longevity of your business. Insurance not only protects your business assets, it also establishes credibility with your customers, business partners, and employees by showing that you care about risk reduction. That’s why it’s important to take the time to compare rates and financing options from different providers to find the insurance that’s right for you and your business.

Want to know more about how Ebroker can help protect your business from everyday threats? Contact one of our experienced brokers or visit Embroker’s digital portal to get quotes online instantly.