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Thursday, 04/24/2014email print

Big “I” Markets


 

To get started with Big “I” Markets, you must:
1. Be a member in good standing with the state association;
2. Complete a Big “I” Markets Sub-producer profile;
3. Provide proof of E&O insurance and applicable insurance licenses; and
4. Complete the AAS Sub-producer Agreement.


 

 

 

 

 

Online Registration
We’ve made it easier than ever to Plug into the power of
Big “I” Markets! Register online today and discover a fresh new way to do business. All products are only accessible online and coverage is subject to licensing compliance and underwriting approval. To register online you will need your login ID and password, your agency tax ID number, your agency E&O policy, and your state agency/agent license information (where applicable). Log on to www.bigimarkets.com today to begin the registration process and be quoting in minutes! Product availability varies by state.

 

1. Where do I get my User Name/Password?
It’s never been easier to obtain your login information. Go to www.bigimarkets.com and click the “Forget Password?” link located under the “Submit” button. Enter your email address in the prompt and we’ll email it to you instantly.

2. How do I request a quote?
Once you’re logged in to Big “I” Markets, select a product of interest from the pop-up list at left and click once. Review the “Underwriting and Coverage” page for eligibility, then click on “Request a Quote” and just follow the screens.

3. I requested a quote but now I don’t see it.
There are two reasons why you don’t see your quote: A.) You logged in as someone else and selected yourself as the Primary Contact or vice versa. In this case the quote will be in the “Activity Box” of the person selected as Primary Contact. B.) You were timed out while entering the information and the connection to Big “I” Markets was lost. This happens if you do not interact with the Quote Request Wizard for 20 minutes or more. In this case you will need to start over.

4. How do I know when a quote is issued?
You will receive an email from Big “I” Markets (bigimarkets@iiaba.net) anytime there is any activity on your quote request, whether it is the underwriter requesting more information or providing a quote. You may need to add our email address to your list of “approved” senders in order to keep the email notification from being rejected by SPAM filters. Please be sure to update us if there is a change in your email address; it will appear in the “Quote Detail” for your customer so you can see what we currently have on file.

5. Why was my quote declined?
The reason will either be listed in the “Message Log” or appended to the end of the Quote Request. You may need to scroll down to see it. The underwriter will give you a specific reason for the declination; however, most declinations could be avoided if caution was taken to read the “Underwriting and Coverage” page carefully. It will provide the majority of the underwriting criteria for each product.

6. How do I contact the underwriter?
The best way to see if a risk will qualify if the “Underwriting and Coverage” page does not address the area of concern is to submit it for the underwriter to review. Once a quote request has been submitted electronically, you can click on the link for “New Message” in the quote detail for your customer and complete the fields that appear in the pop-up window. Your communication will be date/time stamped and the underwriter will respond in the same fashion. Of course, sometimes it is necessary to have a conversation in person; therefore, we have listed the underwriter’s contact information in the “Company Credential” section of the “Underwriting and Coverage” page for each product.

7. What products are available?
The most accurate list of available products is the product list you see when you log in to Big “I” Markets. Those are the products currently available in your state. Hover your cursor over one of the three lists. You will then see a pop-out list of products. Be sure to look at all three lists; Personal Lines, Commercial Lines and Offline Products.

8. I see the product, but when I click on “Request a Quote” it says “This Product is not available to Quote.”
It could mean we do not have your individual agent license on file at this time. Please fax it to (703) 995-4406 with a cover sheet– Attention: Big “I” Markets–listing your agency name and address and requesting that you be assigned permissions allowing you to request quotes.

9. What are the commission levels?
Commissions vary by product. The specific commission level and how commissions are paid is located on the “Underwriting and Coverage” page for each product. Simply choose the product of interest and then click on the link for “Commissions & Policy Administration.”

10. Do you offer Training?
Yes, we do. There is a short half-hour training session conducted each Thursday at 2:00 p.m. EST. A member of the Big “I” Markets team will give you a virtual tour of the Website and answer any questions you may have. Email your training request to bigimarkets@iiaba.net.

 

Finding markets for property owners who have difficulty getting insurance just got easier for you! Through Big “I” Markets (www.bigimarkets.com), available exclusively to members of the IIABA, agents have access to AI Risk Specialists Insurance, Inc®. (AI RISK®), a member company of American International Group, Inc. They have access to Lexington Insurance Company’s complete portfolio of products designed to meet the unique needs of property owners who find themselves in the non-standard property market.

Twelve new non-standard markets are offered through the ultra-flexible LexElite® program which can now be accessed on Big “I” Markets. Click on each of the following to view a detailed description of each product. The products are listed on the Big “I” Markets personal lines menu as they appear below:

 

You can submit a quote for risks that are $50,000 BELOW the stated minimum value if the risk is in a non-CAT area AND is accompanied by front & rear photos.

The additions of these markets represents the fulfillment of a long standing goal. Our market need surveys of members have consistently shown the need for a non-standard homeowner product and ever since Balboa discontinued their non-standard product we have been trying to find a replacement. Lexington was our primary target. From the perspective of Carla Eiring, National Marketing Manager for AI RISK®, “The relationship with Big “I” Markets gives us unprecedented access to agents in markets we would otherwise have a difficult time reaching into. The marketing support the Big “I” Markets team provides is extensive and unlike anything else we have seen.” Eiring adds “we are very excited about this opportunity and are devoting the necessary resources to make sure Big “I” Markets agents get fast turn-around time on quotes and have an underwriter available to answer their questions.”

This in an E&S market and AI Risk® takes care of all the taxes and filings in all states except NC, NM and WA. The only requirement is to sign and submit the Diligent Search Affidavit when requesting issuance of coverage. Member agencies in NC, NM and WA must possess a Surplus Lines license. Before this product is made quotable we must receive a copy of your E&S license AND a signed statement on agency letterhead that your agency will take responsibility for filing the tax in accordance with your state regulation AND provide proof of the filing to AI Risk®. Please fax the letter and a copy of the license to 703-995-4406, attn: Big "I" Markets.

 

Contact Kara Holiman if you have any questions!

 

www.bigimarkets.com     

  Click here for a registration kit

 

    


Independent Insurance Agents & Brokers of America, Inc.
e-mail: info@iiaba.org

127 South Peyton Street • Alexandria, VA 22314
(800) 221-7917 • (703) 683-7556 (fax)

 

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