You need coverage, so you call your local agency, HAWK, to handle your personal or commercial insurance coverage. But what does HAWK do? How are your needs met at the agency level?
While the carrier and the agency serve different roles, they work together to provide the best coverage for individuals and businesses from start to finish. Our role is to help find you the best coverage options available by applying our industry knowledge with carriers that meet your distinct needs.
Follow along with us as we discuss the journey taken to keep our clients insured!
Step 1. Contacting HAWK, Your Local, Independent Insurance Agency
The journey of insurance begins when an individual or business reaches out to an agency. Agencies, like HAWK, act as advisers and intermediaries, helping clients understand their coverage needs from the start. Unlike direct insurance carriers, agencies represent multiple carriers, giving clients options tailored to their specific situations, ultimately saving the insured money.
- HAWK’s Role: We listen to your needs, assess your risks, and determine what types of coverage is appropriate for you, your home, your business, etc.
- Carrier’s Role: At this stage, the carrier is in the background, as the agency determines which carrier(s) might be the best fit.
Step 2. Comparing Coverage Options
Once HAWK understands your needs, we research policies offered by various insurance carriers. Because independent agencies have relationships with multiple carriers, they can compare policies, coverage limits, and pricing to find you the very best fit.
- HAWK’s Role: We shop for the best coverage and pricing, explaining policy differences to the client with full transparency.
- Carrier’s Role: Provides the available policies, underwriting guidelines, and pricing for the agency to review with the client.
Step 3. Submitting an Application & Underwriting
After selecting a preferred policy, HAWK submits an application to the insurance carrier. The carrier’s underwriting team then evaluates the risk based on various factors, such as the applicant’s claims history, industry (for business insurance), and coverage limits requested.
- HAWK’s Role: We gather necessary information, ensures accuracy, and submits the application and act as a liaison between the client and the carrier during the underwriting process.
- Carrier’s Role: Reviews the application, assesses risk, and determines final pricing and eligibility for coverage.
Step 4. Policy Issuance & Binding Coverage
Once the underwriting process is complete, the carrier issues the policy. HAWK then delivers the policy documents to the client, ensuring they understand their coverage details. (Our value proposition empowers you to make informed insurance and risk management decisions, providing you with ease, options, and advice!)
- HAWK’s Role: We review the policy, explains terms and conditions, and answers any client questions.
- Carrier’s Role: Issues the policy, establishes the official contract, and provides coverage according to the policy terms.
Step 5. Consider Investing in Safety Features
The relationship doesn’t end after the policy is issued. HAWK continues to be the client’s main point of contact for any policy changes, renewals, or claims assistance.
- HAWK’s Role: Helps with policy changes, ensures the coverage remains suitable over time, and assists clients in filing claims with the carrier.
- Carrier’s Role: Handles claims processing, investigates losses, and provides payouts as per the policy terms.
Now that you understand the agency and carrier journey, it’s time to begin yours! Let us guide you toward a policy tailored to your exact needs.
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