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Property

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A comprehensive resource for Texans shopping for auto and residential property insurance ... for auto, homeowners, townhome/condo, and renters insurance ... – PowerPoint PPT presentation

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Title: Property


1
Property Casualty 2008Compliance Conference
2
Helpinsure.comA comprehensive resource for
Texans shopping for auto and residential property
insurance
3
Senate Bill 611
  • Enacted by 80th Legislature (2007)
  • Requires TDI and OPIC to maintain a single
    website to help consumers shop for auto and
    residential property insurance
  • Mandates certain types of information that must
    be included
  • Website live by September 1, 2008
  • Requires TDI to collect data regarding
    underwriting profits/losses and rate filing (auto
    and homeowners)
  • 2007 4th Quarter Report www/tdi.state.tx.us/repo
    rts/report4.html
  • 2008 1st Quarter report will be published June
    2008

4
The OLD Helpinsure.com
  • Information about homeowners insurance, wind and
    hail coverage, FAQs, shopping tips, etc.
  • Listings of agents and current providers
  • Agent and company look ups verify license,
    etc.
  • Service to allow agents, insurers to view
    consumer information and contact them regarding
    their insurance needs
  • Homeowners insurance only

5
The OLD Helpinsure.com
6
The NEW Helpinsure.com
  • All the features of the old Helpinsure.com, PLUS
  • An interactive application that allows consumers
    to enter information about themselves and their
    situation and then view rate estimates for auto,
    homeowners, townhome/condo, and renters insurance
  • Sample rates viewable for every Texas ZIP code

7
The NEW Helpinsure.com
  • Policy coverage comparisons
  • Detailed information about discounts
  • Which companies use credit scoring and how they
    use it
  • How to contact companies
  • Shopping tools worksheets, questions to ask
    companies/agents, home inventory checklist

8
The NEW Helpinsure.com
9
Helpinsure.com Pre-launch
  • Industry and consumer focus groups to gather
    feedback on design, content, and features
  • Focus groups held in December 2007 and February
    and April 2008
  • Next focus group June 30
  • Hosted technical conference calls to assist
    insurer staff with developing sample rates and
    programming electronic data files
  • Calls held in January, March, and April 2008

10
Helpinsure.com Pre-launch
  • Accepted test data files from carriers
  • Answered technical questions about the data call
    and posted answers on a special Helpinsure.com
    data call FAQ page
  • www.tdi.state.tx.us/consumer/datacallfaqs.html
  • Additional questions will be added as they come
    in

11
Helpinsure.com Pre-launch
  • Developed sample rate query application to
    display sample rates and allow consumers to run
    customized reports how they will view the
    data
  • Partnered with OPIC to develop policy comparison
    information
  • Existing homeowners coverage comparisons
  • New private passenger auto coverage comparisons
  • Company data due June 1

12
Whats Next
  • Finalize design, content
  • Last round of focus groups on June 30
  • Companies will have a chance to review and
    confirm their data pre-launch, including
  • Sample rates
  • Contact information (please double-check phone
    numbers!)
  • Other information discounts offered, use of
    credit scoring, any special underwriting notes,
    etc.

13
Whats Next
  • Go live by September 1, 2008
  • www.helpsinsure.com
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