Fastcomp was created in 1998 by an experienced team of insurance underwriting professionals to provide Independent Agents with the opportunity to unbundle and place monoline workers' compensation coverage profitably.
Back then, the conventional wisdom had it that small risk/small volume and monoline business just wasn't worth the effort. We saw it another way: as an underserved niche market being held back by large carrier volume commitments. Our vision was a high-tech approach with a personal touch that would open up a new opportunity for Independent Agents by giving them the access they deserve without a premium volume requirement... and much more.
As the industry has evolved, Fastcomp has played a leadership role, developing new ways to streamline workers compensation business for a larger range of class codes.
We created our own proprietary software to streamline the selection and processing of many risks, maximizing the profit margin and allowing the Independent Agent to act as the front line underwriter. And, we leveraged our experience to develop new ways to identify and match exposures to carriers most interested in writing that risk.
Fastcomp can generate multiple premium indications in minutes, by email. Once validated, you receive a bindable price delivered in client-ready proposal format branded to your agency, saving you the hassle of recreating proposals in your AMS.
Our solution has been refined by specialists in workers' compensation underwriting and thought leaders in the online insurance industry, to reflect best practices both in technology and insurance. In fact, we underwrite every account.
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