Venture Insurance Programs launches online platform for small business insurance

Insurance Business America | October 17, 2019

National insurance program administrator Venture Insurance Programs is introducing a new platform that will allow agents and brokers to better serve their small business clients. The new Venture Small Business platform allows insurance professionals to quote and bind policies for over 150 classes of business within the same day. The platform will also provide several post-bind services such as direct billing, issuing ACORD certificates of insurance, policy document requests, and claims reporting/servicing. Venture Small Business can quote and bind general and professional liability coverage for small businesses. “Venture is pleased to offer this small business platform alongside our industry-specific products and services for agents and brokers,” said Venture Insurance Programs founder and president Phillip J. Harvey.

Spotlight

Direct Recognition vs Non-Direct Recognition, which one is better? Which one do you want? When an insurance company issues a contract they agree to assume certain risks on behalf of the policyholder in exchange for a premium. One of the risks they have to assume is the risk associated with providing loans to policyholders who want to leverage their death benefit to take a policy loan. 1. They can force ALL policyholders to assume the risk associated when someone takes a policy loan against their policy. (this is called non-direct recognition).

Spotlight

Direct Recognition vs Non-Direct Recognition, which one is better? Which one do you want? When an insurance company issues a contract they agree to assume certain risks on behalf of the policyholder in exchange for a premium. One of the risks they have to assume is the risk associated with providing loans to policyholders who want to leverage their death benefit to take a policy loan. 1. They can force ALL policyholders to assume the risk associated when someone takes a policy loan against their policy. (this is called non-direct recognition).

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