Loss runs are detailed reports generated by insurance carriers that outline a business's claims history over a specific period, typically the past three to five years. Each report includes information such as:
These reports are essential tools for underwriters when evaluating new insurance applications or renewals.
Insurance companies use loss runs to:
For Our Clients (MGAs/Carriers):
Nearly all insurance companies require a loss run report to issue commercial insurance quotes. This is a standard part of the application process. Underwriters use the report to help determine how much risk a prospective client may pose. A business with multiple losses or high-dollar claims would likely be riskier to insure than a business with a clean track record. As such, a carrier may decide to quote the riskier business a higher premium or decline them for coverage altogether.
What is ACORD?
ACORD forms are standardized insurance application documents that ensures that key policyholder details appear in standardized locations regardless of company, country or language. Each form includes information such as:
ACORD forms are universally recognized documents that contain information which most, if not all, insurance carriers require be completed in order to provide a quote back to the agency.
Why are ACORD Forms Important?
Insurance companies use ACORD forms to:
What are Supplementals?
Supplemental forms are additional insurance application documents that capture industry-specific or coverage-specific information not included in standard ACORD forms. These specialized forms vary by line of business and provide deeper insights into unique risk exposures. Each supplemental includes information such as:
These forms are essential complements to standard applications, providing underwriters with comprehensive risk profiles.
Why are Supplementals Important?
Insurance companies use supplementals to:
For Our Clients (MGAs/Carriers): Supplemental forms are required for most specialized industries and coverage types. Underwriters rely on these detailed forms to understand unique risk characteristics that standard applications cannot capture. A business in manufacturing, construction, or professional services will require specific supplementals that address their industry's particular exposures. Missing or incomplete supplementals can result in coverage gaps or declined applications.
What Pibit Does: Turn unstructured supplemental documents into actionable insights
What is MVR?
Your MVR, or motor vehicle record, pulls information regarding your driving history from your state's department or bureau of motor vehicles. MVRs are historical driving records that businesses can use to evaluate current and potential drivers. Each report includes information such as:
Generally, insurance companies can look back five years into an individual's MVR, making these reports critical for commercial auto insurance underwriting.
Why are MVRs Important?
Insurance companies use MVRs to:
For Our Clients (MGAs/Carriers):
Insurance companies often require MVRs as part of their underwriting process. A truck driver's MVR can significantly impact the carrier's insurance rates and coverage options. Commercial auto policies require MVRs for all drivers to assess individual and fleet risk. A driver with multiple violations or accidents poses significantly higher risk than one with a clean driving record. Carriers with a history of hiring drivers with poor MVRs may face higher premiums or difficulty securing adequate insurance coverage.
What Pibit Does: Turn unstructured MVR documents into actionable insights
What is IFTA?
The IFTA program allows all states to collect fuel taxes on behalf of all participating jurisdictions, based on total distance operated in all jurisdictions, using quarterly reporting of your mileage and fuel purchased in each jurisdiction. IFTA records are tax compliance documents required for commercial motor vehicles crossing state lines. Each record includes information such as:
When your company operates qualified motor vehicles that cross state lines, you are required to obtain an International Fuel Tax Agreement (IFTA) License.
Why are IFTA Records Important?
Insurance companies use IFTA records to:
The UW had to manually browse websites such as OSHA, SAFER, Experian, or look for reviews online for businesses, or to verify location, do risk profiling—thereby occupying a lot of time and bandwidth and making the critical process ineffective.
Pibit’s web scraping product automates this into the existing underwriting workflow and gives you detailed web-scraping insights in a report along with insights, and the report will also be easily integratabtle in a single 360 report giving you account
Turn scattered online, government, and reputational data into a unified source of truth for underwriting.
Some components of Web-Scraping are :
Unified External Risk Data
Aggregate social media reviews, government filings, and business website intelligence into a single source, eliminating the convenience to chase fragmented information.
Surface Hidden Risk Signals
Identify exposures not disclosed in submissions by uncovering red flags across online platforms, regulatory records, and customer feedback.
Holistic Applicant Profiles
Enrich internal records with external insights to build a complete risk profile, ensure historical audibility, and drive more confident underwriting decisions.
Workers’ comp is important for protecting employees at your small business. It provides benefits to help cover medical bills for your employees if they get hurt or sick from their job. This coverage is important because it protects your employees’ finances, but it also helps reduce your liability for work-related accidents.
Most states require businesses to have workers’ comp insurance. However, laws vary, and each state has its own regulations that decide which businesses need coverage. For example, state laws in Nevada require every business with at least one employee to carry workers’ comp.
Professional liability insurance protects businesses when employees make mistakes in the professional services they’ve provided to customers or clients. This coverage is also known as errors and omissions insurance (E&O). Even if you’re an expert in your business, mistakes happen. And if your client or customer thinks a mistake in your professional services caused a financial loss, they can sue you.
General liability insurance helps protect your small business from claims that it caused bodily injuries or property damage to others. Without general liability coverage, you’d have to pay for these claims out of pocket. General liability insurance (GLI) can be called many different things, like business liability insurance, commercial general liability insurance, commercial liability insurance or comprehensive general liability (CGL). These general liability policies offer a critical safety net for small businesses that might face liability claims.
Commercial property insurance helps protect your owned or rented building, plus the tools and equipment you use to operate your business. It covers losses from many sources, such as: **Fire,** Burglary, Theft, Wind, Lightning
Commercial Auto insurance helps protect you and your employees on the road while using company-owned vehicles for business. This crucial coverage can help pay for property damage and medical expenses for anything from a fender bender to a fatal accident. Some of the common types of commercial auto coverage options available to business owners are - Bodily Injury Liability Coverage, Property Damage Liability Coverage, Drive Other Car Coverage, Collision Coverage, Comprehensive Coverage, Medical Payments Coverage, Uninsured/Underinsured Motorist Coverage, Rental Car Coverage, Personal Injury Protection, Hired and Non-Owned Auto Insurance.
PMA Companies Demo: Watch this detailed walkthrough by the Pibit team showcasing our Loss Run Report and value proposition; it’s a great way to gain a thorough understanding of the report’s value.
***Link to Read.ai Demo for PMA Companies***
Important Note:
Every client operating in Mid market and Large accounts needs Loss Run to analyse the exposure, it's the hardest document to crack and therefore the minimum requirement for onboarding any client. All other use cases are secondary.
Here are some recorded walkthroughs that show how different products are explained and pitched during actual client conversations. These videos are a helpful way to see how the final outputs look, how we usually talk about them, and how they’re tied back to the client’s needs.
These can be useful when getting familiar with a product, preparing for a sync, or even drafting a client email.
<VIDEO LINKS>
DEAL OVERVIEW
Here’s the **Onboarding Guide Document** that walks you through the full sequence of steps to follow when onboarding a new client. Think of it as your go-to playbook, it covers everything from kickoff to getting them fully live, with sample emails and message templates included to make things smoother. You can (and should) tweak the examples as per the context of the client you’re working with.
A few important things to keep in mind during onboarding that often get missed but really matter:
The idea is to create a smooth, proactive onboarding experience that sets the tone for long-term success. So just follow the guide, adapt as needed, and don’t skip the small details, they go a long way.
This is the link to the Cross Selling Deals Section in HubSpot, specifically under the Cross Selling Pipeline. Whenever there's an upsell opportunity, a new deal should be created here, but only if it's an actual upselling deal.
While creating a deal:
Only upselling deals should be created in the Cross Selling Pipeline, everything else should go in the appropriate pipeline based on the nature of the deal.
Pibit Dashboard Walkthrough Document: https://drive.google.com/file/d/1lJvPPK1rcLPX0AKOsfFbobgzj1LWu1CG/view?usp=sharing
MS Team Notification Instruction Document: https://drive.google.com/file/d/1GSX_ZnXAGFe30g0bkbi6gfxJRAFV_L5m/view?usp=sharing
Discovery Done if we’ve qualified the need.Demo Done if we’ve shown the product.Commercials Discussed if pricing or terms have been shared.Pilot Done if they’ve completed a test run.Commercials Signed once the upsell is confirmed and we have the signed copy from client.Deal Lost if the upsell didn’t go through (mark with reason in notes).This is the sync-up deck we walk through during our regular calls, not just to showcase usage, but to actively recommend ways the client can make fuller use of Pibit, surface any hurdles or blockers they might be facing, and work together to resolve them. It also gives us a natural opportunity to spark conversations around their current workflows, which often leads to smarter upsell moments and ideas that can genuinely support the underwriters or UW workflows.
Always make sure the syncs keep happening regularly, even if a client seems disinterested or stops showing up, find ways or strategies to bring them back in. These calls are key not just for staying aligned, but also for uncovering upsell opportunities, preventing churn, and building long-term partnerships that help us grow as an organization.
See Some of the Sample Sync Decks :
https://docs.google.com/presentation/d/1T1marsgcjR_lR9TPNR_gqf3RxZh09TnDsr_9tO8P0xM/edit?usp=sharing
https://docs.google.com/presentation/d/152UoCBjIyq_C2cxvhwkR1mzB0kexHurhvYhXfxtQ2B0/edit?usp=sharing
Sync Deck Client Wise :
https://docs.google.com/presentation/d/1Pd7YCtqA-3MSVuW41ZircHfPF4rq6LOupT5PS54njhs/edit?usp=sharing
https://docs.google.com/presentation/d/1e11oAyzmuXRCrswprNBxPUoPpmzoNMPYMpcdaBIonEk/edit?usp=sharing
https://docs.google.com/presentation/d/1FhqddERVccBUMkuWL3XeZtwD0mvF86C9C8F7xEL062s/edit?usp=sharing
https://docs.google.com/presentation/d/1CaeZnsaA92BbroPeEhYmNUJ4Q41TnHdgHZwGZ6JcYm4/edit?usp=sharing
https://docs.google.com/presentation/d/1hUwPNbYBC0lIumIKpSC9PDSy-Ov9CrxqFF2A9ApG4GA/edit?usp=sharing
https://docs.google.com/presentation/d/1FyLQblEDgRxxGrsZyC3k6OXOphDU4nf85c1kRsmAmqA/edit?usp=sharing
https://docs.google.com/presentation/d/13Seyml4S0z4gSzKYk1xpQrY7Np31ilv5Ozj3EPRElso/edit?usp=sharing
https://docs.google.com/presentation/d/1hWGoNu-V7A61umRPaomqLKRMgI_LBT42ptR-WYmesA8/edit?usp=sharing
https://docs.google.com/presentation/d/1wWhcEvonOxlGYz02NXCIYMdK4QjOdisrvSmwpxTnu5Y/edit?usp=sharing
https://docs.google.com/presentation/d/1PMJtJMvJPF-qulU6m5twYJHLbXYBDr4RAKfXPqOue0c/edit?usp=sharing
https://docs.google.com/presentation/d/10bKJJyrFjbIn8EFXKZH_CtOovmiZB1FoIpjtrbCLzlA/edit?usp=sharing
https://docs.google.com/presentation/d/1jdo5VTKdhmcUjLQhjSGG34xRSaQaWhL1qgRuLMxevS4/edit?usp=sharing
https://docs.google.com/presentation/d/1px1AKngLXBgczg30X8iMFrluAOStJB5Q5HFP3h_y4SU/edit?usp=sharing
https://docs.google.com/presentation/d/18_IqCJIJu2D4dv5Jb5vqwY1PLKfLwHWwkqh_UV5CuZc/edit?usp=sharing
Every month, we send a newsletter-style mail to all our clients. It should always include two main things:
The goal is to keep it easy to read and understand, but also clearly explain what’s new, why it matters, and how it helps improve the client's current workflow. Make sure to include clean, well-designed visuals by working with the design team (Kaveen) and always highlight the ROI or value this brings.
If there’s anything interesting happening, like a conference, award, or achievement, add that too.
Use testimonials or quotes wherever it helps make the message stronger or more relatable.
Important: If a client is featured in that month’s Customer Spotlight, don’t send the mail to anyone from that company. Everyone else should get it as usual.
The Customer Mail is only triggered from this outlook email to be sent from - social@pibitai.com The Marketing Outreach Tool Through which we send, monitor and track is Active Campaign, Access the tool with this domain - https://pibitai.activehosted.com/app/overview To access the mail and AC Tool, fetch credentials from the Customer Success Team
Here are two of the mailer PDFs for your reference, should give you a good sense of the format and tone we usually go with :
https://drive.google.com/file/d/1bJ_EOLO16YDvruNda9XXCVWuheqxy6O6/view?usp=sharing
https://drive.google.com/file/d/1ii4CD2x_7a7guMr9YjzBu1pEEe_7LGhL/view?usp=sharing
Click Here to view all the Monthly Mailer, that are sent till date
For the NPS form, we want to start collecting feedback from clients at the beginning of every new quarter, but instead of calling it an NPS form or making it feel like a formal feedback, to keep it super light, short, and easy to fill. The idea is to casually check in with clients on how they’re feeling about the work we’re doing, without making it seem like a big exercise.
The form should be designed to look clean and simple, ideally something they can complete in under a minute. We'll ask just a few rating-style questions (scale of 1 to 10) so it’s quick to respond to, and also throw in a couple of optional open-text fields for comments or shout-outs if they want to add anything.
Make sure it feels more like a feedback form and not like a typical NPS survey.
Some sample questions we can include are:
This form should go out at the start of each quarter, we’ll send it over email and maybe nudge them on Slack if needed.
We’ll also make sure we get a response from all the key contacts, so we have a pulse on how each account is doing. Once the responses come in, they should automatically feed into a tracker or summary sheet so the team can review it easily and act on any patterns or inputs.
The ownership of sending and managing this will sit with the CS team and they will be in charge of sending it out, chasing for responses, and summarizing NPS data.
Here are the NPS Form that are shared, to view the results - Click on View in Sheets Section in Responses Panel :
Case studies are important as they bring in new prospects and increase conversation rates, they also work well for marketing.
Once a client has been using Pibit’s products for some time and is happy with the experience, and we feel they are well aligned with us, we can softly pitch the idea of doing a case study.
We usually check if they or their marketing team are open to collaborating with us for a common call with our marketing folks, on that call, the idea is to understand what parts of Pibit worked well for them, where we brought in a measurable change, and how that compares with what their process looked like earlier. That helps us build a rough blueprint that our marketing team can turn into a full case study. This whole thing is managed by us and Client’s team.
Once we get final approval from the client’s leadership, we publish it on our site. Later, on a future sync, we can also ask if they’d be open to posting or sharing the case study on their social handles like LinkedIn, etc.
Take a look at some of the case studies we’ve published :
https://drive.google.com/file/d/1jZTGyy-hTImlRWmqqwMuaRZoAH-qxzOW/view?usp=sharing
https://drive.google.com/file/d/1tWsGnBbxkOxL9e6-Dq_PQT1VnTIBN9kB/view?usp=sharing
https://drive.google.com/file/d/1-UMR9-ba5DPWaLiHS-ZHX473rEIkOcYy/view?usp=sharing
Also take a look at the recorded video where we initiate and extract information from the client to develop a case study