Through Novo’s 3 distinct plans for Standard Auto coverage (Classic, Next, and Flex), you can provide your clients with real-time visibility into their rates and the power to reduce them. Whether customers prefer an adjustable monthly rate that reflects their safe driving habits for maximum savings, a fixed price during the term with renewal-based rewards, or a plan where how they drive doesn’t affect their premium, Novo has a policy built just for them. Earn a commission of 12% New Business and 9% Renewals. Watch the recording below to see how you can leverage Novo for your clients.
Novo Insurance Product Overview
Chris, who manages distribution partner relationships at Novo, provided an overview of the company, which is a subsidiary of Telenav and operates as an MGU backed by Nightbrook Insurance Company. Novo offers three personal auto insurance plans: NovoFlex, Novo Next, and Novo Classic, each with varying levels of telematics participation and potential savings. Chris highlighted Novo's differentiating features, including a 10% discount for data sharing in the Classic plan, and discussed the company's plans for expansion and brand recognition.
Novo Quoting and Incentive Overview
Chris presented an overview of the quoting process and clarified that glass claims do not negatively impact driving scores. He confirmed that Novo currently only offers 6-month policies. Chris introduced a launch incentive plan, offering cash bonuses to agents who meet certain binding targets, and expressed willingness to consider additional incentives based on early production. He emphasized Novo's unique offering of client choice and control over auto rates, and invited further questions.
Novo Program Participation Requirements
The meeting covered questions about Novo's program, including whether driving records and household information are pre-filled using third-party data providers, which Chris confirmed. Chris explained that all drivers must have smartphones to participate, as the program requires linking to vehicle Bluetooth, and clarified that ride-sharing and food delivery are not allowed. Peter inquired about the appointment turnaround time, which Chris stated should be completed within a day. The session was recorded and resources, including the deck and recording, will be available in the portal's Resource Center.