Bond Department Program for Insurance Agencies

Insurance Agencies

Give Your Entire Agency Access To A Top-Caliber Surety Bond Department

Are you working harder than ever before and earning less? Let us show you how to improve the financial performance of your agency as well as the level of service afforded your clientele, while simplifying your business life.

Our program is simple – our professional team of licensed representatives, underwriters, bond production associates, and other office staff work under your oversight to meet the surety bonding needs of your clientele. As your “virtual surety bond department program“, we take care of every aspect of the bonding transaction – information gathering, underwriting, bond approval & issuance, even billing and collections.

Our program delivers a variable level of commission-sharing which goes directly to your bottom-line. While based on your overall volume through us, most of our agency clients see the overall profitability of their bond operations actually improve following outsourcing with us! In addition, you are providing your clients with access to experienced bonding professionals with a vast portfolio of surety markets and the most sophisticated internet and electronic bonding tools in the industry.

Best of all, as a bonding specialty agency you can put aside any concerns regarding our competing for your clientele’s insurance business – we simply “don’t do that”.

Shorewest Surety Services, Inc. is a bond-only agency, specializing in preferred, standard and hard-to-place surety bond programs. We afford you and your clientele access to a broad portfolio of surety companies, sure to meet your needs, as well as to an efficient high-volume bond production department experienced with almost any bond you and your clientele require. Whether the need is routine, or anything but, we have the markets, relationships, and seasoned experience to get the job done quickly and efficiently when others can’t. Whether your client is a new company, a disadvantaged business, or a well-established firm looking for a stronger or less expensive bond program, we can get the job done.

FAQ’s on our Surety Bond Department Program for Insurance Agencies:

Do you require any volume commitments?

No. Our program is designed to reward our agency partners from the first transaction. However, volume does improve your return – contact us for details.

What types of bonds does Shorewest Surety Services handle?

Almost any you are likely to encounter. That said, the majority of our bond volume is in the more common Bid, Performance, Payment, and License & Permit Bonds common to the construction industry and commercial firms. For additional details on the complete line of bond products available through Shorewest Surety Services, please click through to this list of bond products.

If My Contractor Client is Already Bonded, How Can Shorewest Surety Services Improve His Program?

Many times contractors don’t realize that there are many avenues to improve their bonding program measurably, either by reducing their rates or expanding their per job and aggregate work program limits. They may have significantly improved their financial strength since their original program was developed. Or, the quality of their financial presentation can be improved. Business continuity may not have been adequately addressed. Depending on the specifics of their program desires, there are often simple, straight-forward steps which we can guide the contractor through which make all the difference to the surety. Also, the profiles of sureties can change over time – many times, a change of surety is all that is needed.

Bonding seems too hard and takes too long to make it worthwhile for myself as an agent or for my contractor clients.

If approached in the right way and if the necessary documents are available, the process of bonding a contractor can go very smoothly and quickly. As a bond-only agency, we at Shorewest Surety Services have the expertise to lead your clients through the process as efficiently as possible. We know what is required and what is not – so time is not wasted. We can also explain to the contractor why different items are required and what options or alternatives are available. Finally, we free you as agent to concentrate on other insurance priorities, while providing your clients with the professional bonding expertise they deserve.

We are only a small agency and our clients rarely need bonds. How can you help us?

We do not require a contract or have minimum premium production requirements. However, because of our overall volume, we bring more than two dozen surety markets to the table. We are happy to help your clients with all of their bonding needs, whether occasional or frequent. We would like you to view us as your own contract bond department whenever bond needs come up.

You mentioned your agency clients have actually improved the profitability of their bond department by leveraging your services. How is that possible?

That’s simple. By outsourcing, an agency can trade in their current equations of “Profits = Revenues less Costs” and “Value = Profits less Headaches” for a straight commission for referral of business. Simple and clean, leaving each of our teams focused on what we do the very best.

 

 

 

Speak with one of our surety professionals today. We handle all our underwriting in-house so we can move quickly. Email us now and hear back in one hour. Or give us a call 1-800-264-1634.