Driving commercial lines innovation with
Penn National Insurance
Penn National sells property-casualty insurance in eleven states, through a network of more than 1,200 independent agency operations.
We helped Penn offer their policyholders Business Risk Protection, designed to help small businesses create legal documents that protect their interests.
Extending the protection offered to businesses
Most businesses need to put legal agreements in place, but engaging an attorney to draft contracts and other documents is expensive. As a result, many businesses ignore their legal needs and are exposed to the risk of lawsuits which can create risk for carriers.
What small businesses need is an affordable way to reduce their exposure by creating documents that are specific to their needs. Penn National decided to provide their business policyholders with access to Business Risk Protection (BRP), an Insurtech digital legal assistance service from Epoq Inc.
BRP is designed to help small businesses create legal documents that protect their interests and contain the right clauses to transfer risk.
Meeting changing expectations with digital services
Business Risk Protection is designed to safeguard businesses with high-quality legal agreements that mitigate and transfer risk. BRP contains over 100 services including:
- Contractors - construction agreements, subcontractor agreements and job proposals
- Doing business - documents to hire staff and consultants, protect intellectual property and recover debts
- Hospitality and restaurant - agreements for holding events such as venue rental, catering, and performance contracts
- Landlords - leases and deposit notices for residential and commercial property use LawAssure
Pre-programmed intelligence is used to draft and customize the document in real time, after which the document can be printed and finalized according to the instructions provided. It couldn’t be simpler.
This value-added service extends the protection we provide to the business community and helps us play an important role in helping them resolve their problems. Introducing this service also helps agents maintain their position as trusted advisors to their clients by giving them access to assistance that would otherwise be expensive or inaccessible.
Randy Mancini
Vice President of Commercial Lines, Penn National Insurance
Results
Penn National’s partnership with Epoq was the first legal assistance service introduced by a Super Regional in the U.S. P&C market and the first in a movement by carriers towards non-coverage digital services.
Working with Epoq has been a pleasure! They are very professional and driven to provide a robust product that meets the legal document drafting needs of our policyholders that would otherwise be expensive or inaccessible. We are very appreciative of their efforts to work in conjunction with our underwriting, claims, and legal staff to provide a tailored product in conjunction with the implementation of our new policy administration system
Michael McVey, D.Ed., MBA, CPCU, AMIM, ARe, Manager of Underwriting Education & Training, Commercial Lines Quality and Strategy, Penn National Insurance
If you’d like to learn more about how we work with companies to offer essential legal services to customers and members, get in touch.
