Founded in 2009, Pam has an extensive background in Workers Compensation, having worked with major insurance companies in Senior Executive Management positions for the past 25 years. She has an intimate knowledge of every aspect of the Workers Compensation product line - from underwriting to compliance, classifications, rate filings, premium audits, claims, and Marketing.
When speaking with Pam about V3's Internet Workers Compensation product, several key factors help to differentiate what they bring to the market place. "There are many Internet Workers Comp products out there," said Pam. "We feel our main difference is our staff of Production Underwriters. They have strong underwriting and marketing backgrounds with deep knowledge of the WC line of business. Everyone on our team has a relentless commitment to provide personal service to our Customers. We pride ourselves on the Workers Comp knowledge our staff has, this helps with both our Carrier and our Agency Relationships."
In fact, when V3 developed their product they made sure that their deep underwriting knowledge of Workers Comp was embedded into their Internet rules-based engine. "We developed our product from both an underwriting and analytical perspective," explained Pam. "We spent a lot of time on researching available data so we could determine where we would be best positioned in the marketplace. We designed the product initially for the NCCI states, using the plethora of data available to us, and slowly progressed to launching the product in the independent bureau states. We conduct a thorough study of each state before we launch, making sure we understand all the nuances involved. Currently, we're active in 25 states, and are looking forward to expanding."
What's more, V3's innovation in technology and creative use of reporting metrics affords them the time to be front and center with their agency partners. "The fact that we can easily pull reports to manage the business affords us the time to be out in the field to meet with our Partners as often as necessary," said Pam. "We have the tools available to us to operate our business effectively and efficiently from anywhere. "
V3's technology innovation provides agency partners easy access to getting an account quoted. Furthermore, their commitment to personalized, highly attentive customer service allows their partners to refer accounts that fall outside the box. "If an account is accepted, it's a bindable quote; if not, our agency partners have the ability to refer an account on-line to our underwriters, who are available at all times," said Pam. "An underwriter will review the referral for acceptability and either approve or decline the account on-line. We have built our system to simplify the binding process - as soon as they hit the ‘bind' button they receive a binder with the policy number attached. We want to make doing business with us as easy as possible and we believe we have proven that with our program."
V3 also offers excellent and expert claims service, and has recently added value by involving a "Nurse Triage" at the onset of claim reporting. The claimant now has the expertise of a nurse when an injury is called in. "We believe this will result in better medical outcomes for all our policyholders," said Pam.
What also differentiates V3 is their commitment to profitability and consistency in the marketplace. "Based on our analysis, we're confident with the classes we chose and how well they work within the Internet environment," said Pam. "We also believe in being true partners with our agents, establishing long-term relationships with those who are extremely knowledgeable in the Workers Comp arena and committed to producing a profitable book of business." For an appointment with V3, there is an on-line application along with a volume commitment.
V3's Internet Workers Comp product is easy to use with training available on the system either face to face or via WebEx. Additionally, V3 is completely paperless .
"Our reputation in the field is based on being a specialized underwriting company that delivers a quality product to our partners," said Pam. "We make sure we are fully aligned with our producers and carriers at all times."
For more information about V3's Internet Workers Compensation product, please visit: http://www.v3ins.com/v3ins_products_v3iconnect.shtml.