What Is Direct Insurance?

The Traditional Insurance Model

Most business insurance is sold through a traditional agent or broker. A traditional agent represents and is licensed to sell for a specific insurance company or companies. There are two types of traditional insurance agents: captive agents and independent agents. Captive agents represent a single insurance company and may be employed directly by the insurance company or work as an independent contractor. Independent agents can represent multiple insurance providers and be licensed to sell for each provider.

Brokers do not actually sell insurance, they are the middleman between a customer and an insurance company. They will help shop for and compare insurance plans from multiple insurance providers. This can typically lead to fragmented business insurance split up between numerous insurance companies – each company responsible for a piece of the pie, which can also lead to gaps in coverage.

Agent and Broker Commissions

Both traditional agents and brokers are generally paid via a commission, which is determined from a percentage of the policy premium they sell. The commission rate is negotiated with each insurance company they sell policies for, and the insurance company will include the commission in the policy premium itself; the customer does not see how much this commission actually is, but it’s typically at least 15-20%.

How “Direct” Insurance Differs from the Traditional Model

Instead of going through a traditional agent or broker, direct insurance means you work directly with the insurance provider, saving you the cost of the agent or broker’s commission. When you cut out the middleman, that means the insurance company can pass those savings on to you in the form of lower premiums and more money available for claim payments. What could you do with 20% of your policy premium if it’s in your pocket?

Going direct also means only YOU can access the low rates because you are bypassing the commission and fees. Traditional insurance agents and brokers aren’t able to offer these lowered rates on insurance coverages because they can’t sell a direct insurance company’s policy.

All Your Insurance Needs in One Place

With a direct insurance provider, all services are provided by one group. This includes claims, billing, customer service, and underwriting. All teams are working together for the customer’s best interest vs the best interest of the brokerage or agency. And because there’s no middleman, you’re able to get the answers you need, quickly, by working directly with the insurer.

Direct insurance companies are a one-stop shop, which means coverages can be bundled into a single policy. That leads to less paperwork, streamlined billing, and the peace of mind you are properly covered. This can reduce or even completely eliminate the common frustrations within the centuries-old industry because there are no games, and no last-minute quotes or renewals.

What Makes Us the Leader in Direct-to-Consumer Insurance

We believe the insurance industry can do better, that’s why we’ve redefined the process from the ground up. Our goal from day one has been to provide our customers with faster quotes, easier applications, lower costs, better service, a smoother claims process, and more value that directly impacts your bottom line.

Expertise

When you work with a traditional agent or broker, it’s a gamble on if they or the insurance company is an expert in your industry. Some agents, brokers, and even insurance companies work under a “one-size-fits-all” mentality, which could leave your business under- or over-insured.

At Intrepid Direct, we’re not everything to everyone. We immerse ourselves in the industries we serve to truly understand our customer’s risks and insurance needs. We began with a focus on franchise industries but have expanded into industries that benefit from our direct-to-consumer model. This focus allows us to specialize in the needs of our customers, make their business insurance experience better, and ensure that our customers are properly protected for their unique needs.

Financial Stability

We are part of a Fortune 500 company listed on the New York Stock Exchange and part of the S&P 500. The insurance we provide is written through insurance companies rated A+ (Superior) by A.M. Best¹, an independent credit rating agency that uses qualitative and quantitative measures to assess an insurance company’s ability to pay claims, debts, and other financial obligations in a timely manner. Our financial strength means you can trust us to always be there when you need us most.

Real Savings & Real Service

With Intrepid Direct, you don’t pay commissions AND you get to work with a team dedicated to you and your business insurance needs. Our Client Success Advisors are all licensed in the states we operate in, so you can rest assured we have a knowledgeable team helping you navigate the insurance landscape. Our expert claims team works with our customers before, during, and after the claim process to offer support and answer questions. Acting as a true partner, Intrepid Direct offers claim solutions tailored to the unique needs of our customers. And those games we mentioned traditional agents and brokers sometimes play at renewal?… Our re-imagined process makes it possible to get you a quote – even days before expiration! But don’t just take our word for it, ask any of the thousands of customer locations we insure coast-to-coast. Discover the secret your traditional agent or broker can’t access. Go direct. Save money. That’s the Intrepid Direct difference.