IMT Insurance Company (Mutual)
www.imtins.com
4445 Corporate Drive
West Des Moines , IA 50266
Contact: Rich Nauman
Phone: (800) 274-3531
FAX: (800) 289-4392
info@imtins.com
Percent of business in Illinois by line:
Commercial: 27% Personal: 73%
Premium Volume: $12,121,418
Are you currently appointing new agents? Yes, in locations where we are not currently represented by an active agency.
What type of agency is your company looking for? Experienced agencies in active communities. We are looking for professional agencies with an excellent reputation for integrity. The agency needs to be automated and a member of PIIAI.
What are your premium volume requirements? (In profit sharing? In life?) An agency needs to reach the $250,000 premium level within a 3-year time frame. The minimum requirement for profit sharing is $100,000.
Are you currently doing any niche-marketing program? Complete personal lines packages with a special program for minivan owners. In commercial lines we are looking at BOP's, Contractors and Specialty Paks. Bonds are also one of our target markets.
What is your company’s most aggressive line of business? We are aggressively soliciting all of the lines listed above.
Do you use credit scoring? Yes, for new and renewal business in both auto and home programs.
What methods do you use to distribute your insurance products? We use only Independent Agencies.
What do you think makes your company different, or stand out from all the rest in Illinois ? Why would an agent want to contract with your company? We are a financially sound regional Mutual that believes our agency force is one of our greatest assets. IMT also invests heavily in automation which is preparing us for the future. Basically, we are a company the takes the best of both worlds, past and future, and incorporate them for our agents.
If we had agents agree to sell homeowners policies with actual cash value endorsements, would you write more business in southern Illinois ? We have not yet reached Southern Illinois . We started in the north and have now reached the middle of the State and continue to move south.
Please list your Marketing Representatives and the territory they cover: Pat Allee covers the northern territory and Letoy Smith has the middle area.
Do you plan on retaining your current profit sharing agreements? Yes, but we are always reviewing them and making necessary adjustments.
Do you offer the ability for agents to integrate third-party reports into their comparative rating process? Yes
If yes, with what vendors have you developed and/or signed on to provide this technology? MI Assistant
Do you offer single-entry new business upload from either comparative raters and/or management systems? No
Do you provide rates and assistance to comparative rating vendors? We provide rates and some assistance.
What kind of assistance? When vendors are unable to determine rates we walk them through the rating steps. One vendor has access to our website for quoting purposes.
Do you work with comparative rating vendors to improve accuracy? All of the time
Do you test vendor rates? No
What is your current real-time rating strategy? We allow agents to quote and issue online.
Do you provide an agent facing website for your agent’s reference? Our agents only website allows for quotes, issues, amending of policies, access to billing and reports.
Do you offer the ability to quote and/or issue new business? Yes
Which lines? Agents can quote and issue auto, home and BOP policies. They can also quote work comp and commercial auto rates.
Can the transaction be bound online? Yes, according to our Manual guidelines. BOP’s are not bound.
Can your agents service in-force policies? Yes
Which lines? Auto and Home
Describe the service transactions available: Agents can quote and issue amendments.
Do you publish agent manuals and policy forms on-line? Yes
Do you have upload? Yes
Which lines? Auto, Home and BOP
Do you support policy download? Yes
Which lines? Auto and Home. The BOP download is almost complete as we are in the final steps of receiving approval from all vendors.
Do you support direct bill commission statement download? No
Which agency management systems do you work with? Applied, AMS, MI Assistant, Ebix, In Star, Doris, SIS, X-Dimensional
Live Systems? All
Are there any systems in development? No
Do you support real time service for inquiry? Yes
Which lines? Auto and Home on our website
Claims? No
Billing? Yes, on our website
Do you have real time endorsement capabilities? Yes
Which lines? Auto and Home on our website
Do you support either Transformation Station, Transact Now or other technologies? No
Is this technology available today? No
Please outline the top 3 technology initiatives your company will be implementing to benefit agency workflows, and describe how these initiatives will benefit the agency.
1. Add additional policy lines to quote and issue on our website.
2. Add additional policy lines to download to agency management systems.
3. Make enhancements as requested by our agency force.