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"We spend a lot of time cultivating relationships with our carriers and agents and brokers," explained Frank. "Even with today's advanced technology developed to facilitate many of the insurance processes involved, it's still a relationship business. We have cultivated unparalleled relationships with our markets in particular. We spend a great deal of time with our carriers and their management to ensure that we know what they're looking for and understanding their underwriting appetite. As a wholesaler, speed is critical in responding to our agents and brokers, therefore we don't want to clog up a carrier's pipeline with accounts that they aren't looking to write. This doesn't serve the agent, the carrier, or the insured looking for coverage. In addition, we send full and complete submissions to our insurers, facilitating the underwriter's job and his or her ability to make quick and informed decisions."
As a family owned business, ASIA's personal approach extends throughout the organization and its employees which benefits their broker and agency partners. "We treat their business personally," said Frank. "We provide quick turnaround to brokers and agents and try to answer all of their questions quickly. In fact, oftentimes because of our recognized specialization in Workers' Compensation, agents and brokers will call us with general questions...not necessarily on a specific submission that they want to place. Our staff is there to provide them with the information they need. For every submission, email or phone call we receive, we make sure to provide a quick response. Providing superior service is the key to our success. In fact, we have brokers and agents frequently telling us how good we are getting back to them."
There are three Workers' Compensation divisions at ASIA:
ASIA's NJ Small Business Owners Dividend Program, which was developed with A-rated carrier AmTrust in 2011. "What makes our program unique is that it's on an individual dividend basis," noted Frank. "Often dividends are group programs so if you have a few bad apples that affect the loss ratio, no one will receive a dividend. Our program is based on the individual insured's performance. Moreover, our program pays - we have sent many checks in the last year as insureds have become eligible. We're very proud of this program, as it helps agents and brokers in gaining new business and in retaining existing business. Once an insured receives a dividend check, they don't forget that. It's a feature that many carriers don't offer."
ASIA's Large Accounts product provides markets that offer guaranteed cost, retrospective rating and large-deductible Workers' Compensation. The program is available in New Jersey and Pennsylvania. "We write a great deal of nursing homes, social services, manufacturing and school accounts that have premiums in excess of $100,000," said Frank.
Small Business Workers' Compensation is also available through ASIA for small to mid-size companies, including "main street" businesses and specific classes such as: artisan contractors, beauty shops, buildings operations by owners or contractors, doctors and dentists, grocery stores, hotels, machine shops - light metalworking, private schools, professional offices, restaurants, retail stores, and wholesale stores. "We have some unique markets in this area," noted Frank, "carriers to which many brokers and agents don't have direct access, such as AmeriHealth Casualty and Zenith Insurance Company. We are their principal wholesaler for monoline Workers' Compensation, and because of the significant volume of business we place and our longstanding relationships, we can often offer our agent and broker partners better results than you would have with direct access to those markets, particularly in getting certain risks quoted and written."
ASIA provides Workers' Compensation markets and products to insurance agents and brokers for their clients throughout New Jersey, Pennsylvania, New York, Connecticut, Delaware, Maryland, Virginia, North Carolina and Florida, with future plans to expand into other states. The wholesaler has built its reputation based on its breadth and depth of expertise in the field, longevity in providing solutions in a fluctuating market, longstanding carrier relationships, responsive service, and quick submission and quote turnaround.
For more information about ASIA and its Workers' Compensation solutions, please contact Frank at (610) 543-5510, ext. 103 or via email at fsorochenjr@asiaworkerscomp.com. You can also visit ASIA's website at http://www.asiaworkerscomp.com/.