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OUR NEWSLETTER
Beyond the Phone Interview

A Dedicated Alternative to
Employing In-House Underwriters

It takes a dedicated and experienced underwriter to present complex cases and negotiate with carriers to get the best rate possible. For many BGA's, this means hiring in-house underwriters who summarize APS's and speak with agents about prospective case scenarios.

Having an in-house underwriter is an attraction to recruiting agents and a necessity for presenting complex cases to carriers. However, this on-staff expertise carries quite a high price tag - typically between $70,000 - $90,000 per year in salaries, not including payroll costs, benefits and other expenses.

Listening to Our Customers
Over the last three years IBU has helped BGA's reduce costs by providing APS summaries. Some of these customers have asked us if we could, in addition to providing a summary, also speak with agents and carriers regarding complex cases. After going this extra step, these BGA's expressed the desire for an assigned, dedicated IBU underwriter, but they didn't want to pay the equivalent cost of a full time in-house underwriter.

Introducing the New IBU Virtual Underwriting Service
Listening to our customers has lead IBU to offer a Virtual Underwriter Service for BGA's. Pricing is very competitive based on per-minute rates for cases summarized as well as discussions with agents and underwriters. This allows BGA's to pay for only the exact amount of underwriting they need.

Each customer who signs up for the IBU Virtual Underwriter Service gets a dedicated toll free number. In addition, BGA's using this service can tap into our team of 80+ experienced underwriters who can interpret EKG's, conduct telephone inspections and translate APS's in Spanish and other foreign languages. BGA's involved in Life Settlement also can get LE's.

Current IBU customers have already realized great savings! For example, a new customer was previously paying $7,000 per month in salary alone for an in-house underwriter. Using IBU’s Virtual Underwriting Service, this customer has now cut costs by more than half and is promoting their virtual IBU underwriter to their agents by freely distributing the toll-free number.