The platform offers an all-in-one solution
By Mika Pangilinan
Global brokerage Hub International Limited (HUB) has launched a new offering aimed at helping franchisors and franchisees in the US and those with cross-border operations in Canada.
The Franchise Insurance Platform is billed as an “all-in-one” solution for the multi-industry franchise sector to manage insurance needs, review competitive pricing and ensure compliance.
According to HUB, the platform provides users with a comprehensive overview of insurance options, competitive price comparisons, and a convenient way to monitor insurance certifications.
Automated alerts notify franchisees when it is time to renew insurance policies or if they fail to comply. The platform also provides users with claims notifications and live agent support via phone and live chat.
“Maintaining insurance is complex in franchising, especially for multi-unit operators,” said Chris Trainor, HUB’s President of Programs and Specialties.
“As additional locations open, franchisors typically lack the tools to track insurance compliance while franchisees may create an insurance program that lacks structure—underinsured in some locations, over-insured in others, navigating too many different expiration dates and paying too much.”
In the highly regulated franchise industry, compliance extends beyond federal laws to include state franchise regulations. Both franchisors and franchisees must ensure compliance not only in their home state, but in the states where their franchises are located.
“Our solutions help overcome these complexities by not only offering the best coverage and pricing to franchisors while maintaining contractual compliance for the franchisor,” said Trainor.
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