Hub launches digital placement platform for personal lines coverage
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Hub International Ltd. on Monday introduced a digital platform for personal lines coverage such as home and auto insurance.
The move comes about three months after Hub expanded its digital offerings for small businesses through the purchase of online agency Insureon.
The personal lines platform VIU by Hub will allow buyers to obtain quotes from participating insurers, including Nationwide Mutual Insurance Co., Safeco Insurance Co. and Travelers Cos. Inc., and purchase coverage online.
Buyers will be able to access other insurers through the brokerage’s staff, said Marc Cohen, president and CEO of Hub, in an interview.
In 2020, the latest year for which figures are available, 16.4% of Hub’s $2.7 billion in brokerage revenue was derived from the placement of personal lines insurance.
Overall, Hub is mixing a digital strategy with a traditional insurance brokerage strategy, Mr. Cohen said.
“VIU by Hub is designed for the customer that wants to interact with their insurance brokerage in a digital way, but also have the ability to connect and communicate with a personal lines insurance professional,” Mr. Cohen said.
