Introducing Prime Q!
Introducing Prime Q!
Effective September 6th, 2022, Optiom has released Prime “Q”, which is replacing both the Prime “M” and Prime “T” policy series.
We have enhanced the product to offer flexibility in adding and removing coverage throughout the policy term, introducing premium financing options, and will include the Key Fob Reimbursement Benefit in all policies regardless of term.
We have listened to your feedback and the “Q” policy series will align Optiom Prime with industry-standard practices. Policies will be issued with set expiry dates and continued coverage will be processed as renewals, not “extensions”.
The Added Benefits Of The New Prime “Q”
WHAT’S STAYING THE SAME
There Are No Changes In
Coverage limits | Eligibility for the vehicle or vehicle use | Eligibility for the policyholder | Loss Reporting
CHOICES GALORE
Policy Term & Options
Policies can be issued on an annual or multi-year basis with a set expiry date.
Policyholders still have a monthly payment option available to them.
At renewal, your client can choose the right policy term for them: annual or multi-year. They can even add some optional benefits mid-term.
Introducing Bamboo Premium Financing
- Available through Optiom’s Portal.
- Guaranteed approval for all your clients and no minimum limits on financing.
- No credit checks required.
- Flexible financing options, allowing clients to pay monthly on all available policies term lengths (matching up to 7 years).
- Loans can be managed online through MyExpress.
Introducing Bamboo Premium Financing
- Available through Optiom’s Portal.
- Guaranteed approval for all your clients and no minimum limits on financing.
- No credit checks required.
- Flexible financing options, allowing clients to pay monthly on all available policies term lengths (matching up to 7 years).
- Loans can be managed online through MyExpress.
Premiums
We have moved to risk-based pricing.
Premiums will be calculated annually based on the policy term selected.
Multi-year policies will still have locked-in pricing.
No transfer fees.
When Quoting
The Prime Multi-Year Premium table will now show discounts in dollars for ease of quoting.
Premium Finance Terms will be displayed on the last page for your convenience.
Each page is saved at every stage of the quoting process.
Cancellations
WE’RE HERE TO HELP
Support & Legacy Policies
Optiom representatives are available for additional questions and training support.
Legacy policies will continue to be serviced and maintained as per the product’s contract specifications.
Thank you for your continued support of Optiom, and we look forward to working with each of you as we embark on this transition!
