It’s that time of year when colleges and universities shop for student accident and sports insurance. Here’s why you should do it online.
We live in a connected world where we can do almost everything online or on our smartphones with just a few taps—from requesting a ride, to managing our bank accounts to booking vacations, technology makes it easier than ever to conduct day-to-day business transactions. While arguably late to the game, insurance is finally catching up and entering the digital space.
But, it hasn’t always been this way.
The process of shopping for and buying intercollegiate sports and student accident insurance hasn’t changed much in 50 years. Trying to navigate this specialty niche market can be confusing and consume much of your valuable time. Until now, specialty insurance products tailor-made to fit college’s needs have been cumbersome to shop for and purchase.
Do colleges really understand who they are sending their quote request to?
The insurance industry is notorious for adding layers (hands in the cookie jar) between the customer and the insurance carrier, making it difficult for the college to know if they are requesting a quote from an insurance company, a broker, a managing general agency, or all three! Along the way, each layer adding more costs to the total premium. But this is just one aspect of the process.
An antiquated process made it difficult for colleges to have confidence in their decision.
Colleges would then have to gather all of their underwriting data, format multiple emails, attach their underwriting data in various formats (PDF, Excel and Word) and fire it off into multiple directions hoping for the best. And then they would wait….and wait…and wait. It could be weeks before a college would see a single quote. Eventually, quotes would show up in their inbox. They would then have to hit print and waste pounds of paper so they could try and make sense of it all; sifting through stacks of paper trying to compare one quote to the next.
But that is the old way and times, they are a-changin’ as they say!
Enter SquarePeg — We’ve done the heavy lifting for you and break down why purchasing student accident and blanket studentinsurance online is now actually easy and convenient.
Getting a quote is now easier than ever.
SquarePeg eliminates the antiquated “fact-finding mission” and replaces it with an easy-to-use powerful platform that allows you to request and compare multiple insurance quotes in no time, directly from top-rated insurance companies in the student accident and sports insurance market. That’s right, we cut out the layers!
Not only does SquarePeg save you money by cutting out the layers, we also do it by taking a flat fee rather than charging a percentage of your premium. This fee offsets the cost of things like placing your insurance with an A-rated carrier and bringing you cool technology with a live person to assist you along the way.
With our messaging platform, colleges can ask questions and receive answers from our experienced staff within 24 hours. Colleges can request multiple quote options with varying benefit levels—and these can be customized as needed—putting the control back in the hands of the college.
With SquarePeg, colleges no longer have to send out multiple quote requests. They simply upload their underwriting data into the portal one time, choose the desired benefit options, and let the powerful platform do the rest. Quotes come directly to you from our insurance carrier partners. You can say goodbye to tedious online research and trying to remember the name of that insurance rep you met at last year’s conference—SquarePeg brings the carriers directly to you!
Analyze quotes and compare carriers.
Clients often choose a carrier on price alone—instead of benefits, service, and industry experience—because it’s difficult to make sense of the information they have been provided. Others stick with their current provider for the same reasons. It is simply too cumbersome to change.
SquarePeg quotes arrive in a standardized format and clients can compare carriers in an easy-to-read comparison table. We give you the information you need to be confident you’re making the right decision.
After the sale is where SquarePeg shines.
In the traditional model for intercollegiate sports and student accident insurance, support and contact from an insurance representative tends to evaporate once the sale is made and the college is left to manage their insurance program with little support. Colleges may only hear from their insurance representative once a year at renewal time. Guidance on managing losses and limiting claims exposure can be rare.
After the sale is where SquarePeg really shines and offers a differentiated customer experience. Colleges get support from the SquarePeg team all year long. We help colleges reduce their claim exposure by giving them access to our automated primary insurance validation tool within the SquarePeg platform—colleges can identify uninsured athletes within seconds, helping them proactively manage and reduce their claims exposure. The SquarePeg team is ready to help review utilization data collected throughout the year to get ahead of claims and mitigate any end-of-year surprises.
Everything the client needs—forms, payments policies, procedures, contacts, and plan summaries—are available in the SquarePeg system and can be accessed anytime.
Renewal made simple!
Before SquarePeg, renewal time meant that the antiquated insurance quoting cycle had to start all over again.
With SquarePeg, colleges no longer need to collect their underwriting data from prior insurance providers. Our team obtains this information from prior insurance providers on the college’s behalf. Simply log in at renewal time, select your desired benefit options, update your sports census and wait for the quotes to come in. Access our handy comparison table to review quotes and then chose the desired carrier. It’s that simple!
The SquarePeg platform:
- Saves you time
It’s as easy as 1…2…and you won’t even need a 3! Within minutes your account can be created, your insurance needs selected, and then sit back and relax while your quotes come to you.
- Gives you back control
You’re the captain and we’re your crew. Choose the benefit options that best fit your program and the proposal that best meets your needs. We will take care of the rest.
- Works for you
Navigate through carriers and insurance quotes that are tailor-made to fit your needs. Request SquarePeg feedback on each quote to ensure you have the right information to make an informed choice. We have over 60 years of combined experience in the student accident and sports insurance industry. We are here to assist you along the way.
- Simplifies your life
Easily review and compare quotes from multiple carrier options before making your final decision. Once you’ve decided, we will invoice you for the premium quoted, with no additional costs or hidden fees from SquarePeg. It’s a piece of cake!
As you can see, SquarePeg puts the power and control back in the hands of the college, where it belongs, while saving you time and money.
If you’re ready to give the SquarePeg Insurance platform a spin, click here.