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Tampa, Florida USA (EINPRESSWIRE), April 3, 2024 — Bond-Pro, the leading Surety underwriting and issuance platform, announces the release of new functionality for their Carrier Edition software, utilized by Insurance Companies and Master General Underwriters. Bond Expedite™ eliminates the obstacles to quickly and easily issuing Surety Bonds. It significantly streamlines the entire bond purchase process and dramatically improves the overall experience for Insurance companies, their Agents, and Customers.

Today, acquiring a Surety Bond is a time consuming and cumbersome process. An insurance or Surety Agent sends a bond application via email to their Customer (also known as a Principal). The Principal must manually download, print, complete, sign, scan, and email it back to the Agent for processing. This entire onerous procedure must be repeated if errors are identified during review. Upon approval, the Agent sends an invoice to the Principal and manually collects payment. This inefficiency is especially arduous and costly when processing low premium, high volume, commercial bonds.

Bond-Pro’s Bond Expedite™ enables anyone to purchase Surety bonds quickly and easily.

• An Agent initiates the bond application process by selecting the appropriate bond product and entering basic information on behalf of the Principal.
• The Principal receives an e-mail notification and simply clicks a secure web URL link.
• The Principal is directed to a pre-filled application with the correct bond product selected.
• The Principal simply reviews/edits the application, submits it, and receives an instant decision.
• The Principal immediately receives a price quotation and pays online via credit card.
• Documents are instantly generated, signed, and downloaded securely by the Agent or Principal.
• The Agent is notified that the bond was successfully purchased.

Another unique feature of Bond Expedite™ is that Agents can opt to provide even greater value to their customers. When initiating a bond application, they can choose to handle steps in the process typically assigned to the principal. This includes completion of the application, accepting the quote, and submitting payment on behalf of their customer.

The benefits of Bond-Pro’s new Bond Expedite™ functionality include:

• Increased Surety premium revenue by making it easier for Agents and Principals to purchase bonds.
• Faster response time to customers and greater numbers of converted bond applications.
• Assurance that business is not lost to competitors.
• Elimination of Agent and Principal confusion and frustrations.

“Bond-Pro continues to reinvest in our software products and leads the Surety industry in technology innovation. By listening to our clients and incorporating feedback, we’re continually committed to the ongoing development of functionality that provides our clients with significant competitive advantages.”, said Frederick Duguay, President & CEO of Bond-Pro. “The new features released in Bond-Pro’s flagship Surety automation platform and our Multi-Channel Web Portal product deliver the functionality that finally solves this core problem faced by all Sureties. Without it, Agents lose control of the customer experience negatively impacting Surety bond close ratios.”

About Bond-Pro

Bond-Pro™ is the leading developer of surety automation and management software. Bond-Pro products have been utilized by many insurance carriers and hundreds of insurance agencies worldwide for over 30 years. The software drives premium growth, improves underwriting efficiency, reduces costs, and mitigates risk. Bond-Pro’s products and services enable surety professionals to effectively manage the entire surety life cycle, including account and bond underwriting, scoring, rating, and decision making. For more information visit https://bond-pro.com or call +1 (813) 413-7576.

#Surety #SuretyGrowth #SuretyTech #SuretyTechSuccess #SuretyTechROI

Media Contact
Jeffrey York
Chief Business Officer
+1 (813) 436-3268
jyork@bond-pro.com

 

Disclaimer

Some of the statements in this update that are not historical facts are forward-looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions, and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.

 

Link to Press Release: https://www.einpresswire.com/article/700669192/bond-pro-introduces-bond-expedite-simplifying-the-purchase-of-surety-bonds