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The Hanover Launches Workers' Comp Advantage to Simplify, Expedite New Business Process for Small Commercial Clients

1. THG launched Workers' Comp Advantage to streamline quoting for small businesses. 2. Workers' Comp Advantage can generate quotes in under two minutes. 3. The platform enhances user experience with a streamlined interface and pricing flexibility. 4. Agents can access additional services like Nurse Triage 24 for immediate injury response. 5. Workers' Comp Advantage is currently available in select states, expanding throughout the year.

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Why Bullish?

Introduction of Workers' Comp Advantage shows THG’s commitment to digital innovation, enhancing customer retention. Historical trends show that insurance companies investing in tech often see a positive impact on growth forecasts.

How important is it?

Strengthening offers in a competitive market can drive new business, and innovation in claims processing will appeal to customers.

Why Short Term?

Immediate impact expected as agents adopt the new platform, leading to faster service. Quick implementation in multiple states can amplify market share rapidly.

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, /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) announced today the launch of Workers' Comp Advantage, a new addition to its business submission platform, designed to simplify and accelerate the quoting and binding process for small business clients. The Agency Place (TAP) Sales, The Hanover's industry-leading online quoting and issuance platform for agents, offers a suite of coverages including business owner's policy, marine, and professional and management liability products. The integration of Workers' Comp Advantage into the platform marks another step in the company's ongoing investment in digital innovation for small commercial insurance. "This is an important advancement in our digital journey, one that helps enhance the experience for our agents," said Charles F. Hamann, president and chief underwriting officer, small commercial at The Hanover. "Workers' Comp Advantage enables our agents to offer leading workers' compensation solutions to their customers, streamlining the quoting process and helping them deliver insurance solutions even faster and more efficiently." A bindable Workers' Comp Advantage quote can be delivered in less than two minutes, with up to 90% straight-through processing across many target classes. The platform offers: An enhanced experience: A sleek, intuitive interface that works seamlessly with the company's business owner's policy for a more cohesive quoting experience Simplified entry: Prefilled fields and the ability to quote with just seven pieces of information Pricing flexibility: Adjustable pricing and access to state-specific safety credit programs based on clients' risk management practices Faster policy delivery: Instantly generates customized quote proposals and delivers policies electronically to agents, enabling real-time delivery to customers In addition, agents can seamlessly offer their clients access to other value-added services from The Hanover, such as Nurse Triage 24, providing immediate injury response, and Hanover EZ Pay, a pay-as-you-go billing option for workers' compensation. "With Workers' Comp Advantage, we're giving our independent agent partners the speed and flexibility they need to quote and bind more efficiently, helping them better serve their clients," said Erin A. Fenlon, vice president, chief operations officer, small commercial at The Hanover. Workers' Comp Advantage is currently available in Idaho, Illinois, Indiana, Maryland, New Hampshire, Utah, Vermont and Virginia. Additional states will be added throughout the year, including South Carolina and Tennessee in August. For more information about Workers' Comp Advantage and The Hanover's small commercial insurance solutions, please visit hanover.com. About The Hanover The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com. All products are underwritten by The Hanover Insurance Company or one of its insurance company subsidiaries or affiliates ("The Hanover"). Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only and does not provide any coverage. SOURCE The Hanover Insurance Group, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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