The Bond Hub Successfully Completes Surety Bond Marketplace Pilot
After completing the pilot phase of The Bond Hub's marketplace solution, company announces plans for national surety bond programs and availability of new bond markets.
- Orlando, FL (1888PressRelease) March 31, 2015 - Over the course of the past two years, The Bond Hub has been working diligently to create a surety bond marketplace that provides retail agents with access to commercial surety bond programs, created by their various MGA and carrier relationships, inside of a single online platform. The platform provides agencies with easy market access, instant underwriting decisions, even on complex non-standard risks, as well as a number of principal self-service capabilities. These efficiencies empower agencies with the ability to focus more on revenue-generating activities, which is where agency owners want their attention to be focused.
The Bond Hub has announced that its six-month pilot program of their surety bond marketplace solution has successfully come to a close. The company has moved the marketplace into full production and is actively processing applications, across multiple states, for a wide variety of standard and non-standard commercial surety bond risks. It is now in a position to begin rapidly expanding the bond types available in the platform. With plans on having three national surety programs in the marketplace before the end of the second quarter, in addition to a number of miscellaneous bond options, the company is well positioned for a high-growth year.
"While surety bond processing software provides much-needed post-purchase efficiencies, it doesn't drive top-line growth. We've gone to great lengths to produce a solution that is very much focused on maximizing revenue-generating opportunities, while accurately automating the analysis and pricing of risk," says Alexander Buckles, President & CEO, The Bond Hub, Inc.
Buckles adds, "We're not looking to replace any company's surety bond system of record. That, combined with bond markets not having to involve their I.T. divisions or provide any upfront capital, we've nearly eliminated all platform adoption barriers. The marketplace model has really taken shape and our growth is a strong indication of that."
The company has been actively working with carefully selected bond markets, in preparation for the release of these national bond programs, with the goal of providing retail agents with the widest variety of appetite options for the available bond types. Any bond market with a unique appetite for commercial surety risks is encouraged to contact The Bond Hub to learn more about how to submit their programs for inclusion in the marketplace.
About The Bond Hub, Inc.
The Bond Hub, founded in 2013, is the most innovative provider of surety bond technology in the surety industry. The company's forward-thinking team, advanced technical expertise, and deep understanding of the surety bond industry's challenges, has facilitated the creation of a first-of-its-kind marketplace that delivers a truly amazing surety experience to all parties participating in a surety transaction. For more information, please visit http://www.thebondhub.com or call 1-800-931-5373.
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