The Hanover Announces the Launch of its Small Business Digital Exchange Gateway

Rhea-AI Summary

The Hanover Insurance Group (NYSE: THG) launched the Small Business Digital Exchange Gateway, a collection of insurtech platforms enhancing agent-carrier connectivity for small businesses. This innovative solution supports business owner's, workers' compensation, and management liability policies across various commercial lines. Currently accessible via seven third-party platforms, it aims to streamline the placement process for agents. Plans are in place to expand offerings to include additional product lines, further aiding agents in efficiently placing business.

Positive

• Launch of Small Business Digital Exchange Gateway enhances connectivity for agents.
• Expands access to business owner's, workers' compensation, and management liability policies.
• Available through seven third-party platforms, improving efficiency for agents.
• Plans for future expansion to include additional product lines.

Negative

• None.

Helping agents streamline small business placement

WORCESTER, Mass., Dec. 6, 2022 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced it has launched The Hanover Small Business Digital Exchange Gateway, an innovative collection of insurtech platforms that enable agents to access The Hanover directly through existing connections in their commercial lines quoting solutions. The Small Business Gateway supports The Hanover's agent partners in their desire to enhance agent-carrier connectivity and streamline the small business placement process.

The new solution supports both standard and specialty lines, and is accessible through seven third-party partnerships – IVANS Distribution Platform, Applied Epic Quotes, Tarmika, Semsee, Vertafore, Insureon and Verisk. Currently, the Small Business Gateway is available for business owner's, workers' compensation and management liability policies in many of the company's commercial lines states, with plans to expand to professional liability lines over the next year.

"We recognize the operational challenges our agents face as they work to place business and serve their customers, and we have been very thoughtful about how technology can help them transact business in a more efficient and effective way," said Richard W. Lavey, president, Hanover Agency Markets. "This new capability complements our existing TAP Sales system, which provides direct access to The Hanover's small commercial, marine, and professional and management liability products. Agents now have a choice to either access The Hanover directly through TAP Sales, or utilize the new Small Business Gateway, offering great flexibility and ease of use."

The company plans to expand the Small Business Gateway to include additional product lines, making it even easier for agents to efficiently place more account business.

About The Hanover

The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.

CONTACTS:
Abby M. Clark	Emily P. Trevallion
abclark@hanover.com	etrevallion@hanover.com
508-855-3549	508-855-3263

 

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SOURCE The Hanover Insurance Group, Inc.

FAQ

What is the Small Business Digital Exchange Gateway launched by Hanover Insurance Group?

It's an innovative collection of insurtech platforms that enhances agent-carrier connectivity for small businesses.

What product lines does the Small Business Gateway currently support?

It currently supports business owner's, workers' compensation, and management liability policies.

How many third-party partnerships does the Small Business Gateway utilize?

The Small Business Gateway is accessible through seven third-party partnerships.

What are the future plans for the Small Business Digital Exchange Gateway?

The company plans to expand the Gateway to include additional product lines to facilitate business placement.

On what date did Hanover Insurance Group announce the Small Business Digital Exchange Gateway?

The announcement was made on December 6, 2022.