Why Become a WYO Company??
Your "Existing" Flood Book
Flood insurance is likely required for a significant number of your company's homeowners' policyholders. However, their existing flood insurance needs are currently being met by a competitor. The good news is that once your company enters the WYO Program, Torrent can help agents that have placed flood insurance with competitors to quickly and easily roll this business to your company - capturing additional revenue with little incremental effort.
Grow your Homeowners' Book
Participating in the WYO Program will increase customer retention for your company's agents by eliminating shared relationships with your competitors which could lead to lost customers. By offering flood insurance you add a complementary line to your current product offering which can also be leveraged to grow your homeowners' book of business.
No Redirected Resources
By selecting Torrent as your company's Flood Vendor, you ensure there will be no
drain on existing resources - including budgeting dollars, human capital or
project focus. If you prefer, Torrent Technologies can perform literally every
function required in connection with NFIP participation, and can even help with
the initial WYO Company setup with FEMA. The WYO Program can generate millions of dollars in revenue for your company without increasing your claims risk and will give you the option to participate in the servicing of your flood book only if you elect to do so.
Leverage Your Agent Network
Your agents are already doing something about flood insurance. They may be
referring your policy holder to other agencies, or writing the flood policy with
your competitors. Why not give them an outlet that will help your
homeowner's retention rate too?
Proven Concept
The NFIP has been a successful program for over 40 years. Outsourcing to a company such as Torrent is a proven solution that reduces overhead and ensures your company's successful and compliant participation in the NFIP.
Risk-free Revenue
Participation in the WYO Program increases your revenue but not your risk. Because the NFIP is fully-guaranteed by the Federal government you enjoy the benefit of additional revenue without additional claims liability.