Markel opens up online submissions to market

Toronto-based Markel Insurance Company of Canada is opening up its online submission process to the competition. Much like U.S.-based Progressive’s move to offer online quotes by its competitors, Markel will allow brokers to make submissions to any of its competitors through the “I-Quote” system at www.markel.ca.Markel CEO and president Mark Ram says the decision is a response to a very difficult market, where brokers are struggling to place trucking business and need a fast, easy way to get submissions to carriers. “As the market leaders, we felt it was critical to do what we could to bring greater simplicity, practicality and ease of business to Canada’s broker community.”The system is open to any broker, for no charge, and allows brokers to make submissions to multiple companies or a single company. Brokers are not even required to submit business to Markel. Submissions can be tracked and managed online as well. The system presents simple screens to be filled out and has added features including glossaries and other information on trucking. The goal is a system that is easy for brokers who are not familiar with the trucking industry, and who may have as little as one submission to make. “These are tough times for brokers today, we are here to make things easier.”Ram says he does not fear competition, and has confidence in the company’s position as the top player in the trucking insurance business. He notes that the company is prepared to respond to submissions often within an hour and has value-added programs aimed at the trucking industry to bolster its position as industry leader. The company also has no volume requirements and does not require a contract with the broker in order to receive submissions.The online system was started in November 2002, and has proven successful with small fleet trucking business (i.e. nine or fewer trucks), where up to 40% of quotes are now being submitted online.