Program Spotlight
PROGRAM SPOTLIGHT:
US ASSURE BUILDERS RISK
An interview with Alan Ferguson, President, US Assure
US Assure is the exclusive Program Administrator for the Builders Risk plan insured by Zurich. They distribute, underwrite and service construction and property insurance products across the U.S. for “A” rated carriers. US Assure was designated a Best Practices program administrator by Target Markets Program Administration Association and was the recipient of Zurich’s Program Administrator Award of Distinction.
We recently had a chance to speak with Alan Ferguson, President of US Assure. Here is an excerpt from our interview.
Zurich: How has the program changed over its 40-year history?
Alan: Our mission is to be the most innovative, most consistently stable, easiest-to-access market for builders risk insurance. Over a 40-year period, we have evolved our program with Zurich time and time again to deliver customers the greatest experience. And because of the consistency US Assure has exhibited, specifically in our underwriting decisions and value we place on the customer, we’ve done some great work, like having the first online builders risk program; introducing an open distribution model with no minimum commitment—any licensed independent P&C agency accepted, as well as a select group of captives and networks; increasing in-house underwriting authority both for our organization and on an individual underwriter basis, which means more staff is empowered to make underwriting decisions for our customers.
We’ve also continued program expansion for risk types and values—from residential only to commercial projects less than $1.5M to all construction projects valued up to $75M in TIV, including remodeling and installation jobs. We’ve continued refining coverage options and limits—nearly every year we’re enhancing our form. And we’ve achieved faster issuance—continually refining online application for residential and commercial projects to reduce questions where possible. We just released XPressBIND—the quickest way to issue new residential builders risk valued up to $500,000.
Zurich: What do you think has been the key to the program’s success?
Alan: Specialization—builders risk is what we do! We are consistently innovating. In addition to the proof points I just mentioned, we listen a lot to our producers, making many enhancements as a result of their input.
We keep access fast and easy: Agents rate us best-in-class for delivering superior customer placement and providing exclusive market access to Zurich through our proprietary online policy issuance system—the fastest, easiest way to quote, issue and endorse builders risk policies. We’ve also made it extremely easy to onboard new distributors and producers online—no paperwork involved—allowing product access the same day they sign up.
Everything we do is centered on providing the best experience for our distributors. We have a superior combined NPS rating of 88 for our residential and commercial business, indicating our customers are loyal and would highly recommend us.
We have a high-performing team. We cultivated the most experienced and passionate group of builders risk experts in the industry, where, together we relentlessly work toward streamlining our tools and processes, making it easier for agents to quote and issue complex, market-leading coverages.
We are stable and driven. We are unwavering and transparent in our sound business practices which enable us to be a stable and secure business partner and employer—reliable to our agent network, carrier relationships and US Assure family.
Zurich: What do you value most about the US Assure-Zurich relationship?
Alan: Long-term commitment and stability from both organizations. We’ve remained a reliable source for builders risk insurance in every area of the country, regardless of factors like extreme swings in catastrophic activity, competitor activity and global capacity challenges. This long-term stance has created a stable market presence that is there for agents and brokers, and more importantly, insureds.
From left to right: Front row — Alan Ferguson, President; Ty Petway, CEO; Amber Anthony, SVP, Head of Marketing, Sales & Distribution; Back row — Steve Bristow, SVP, Head of Operations; Selena Breedlove, CFO; Jay Yuskis, SVP, Head of IT; Rachele Holden, SVP, Head of Underwriting
11 PROGRAM LEADER