Why Do We Partner with the Competition?

An interesting thing happened at this year’s Olympic Games in Tokyo. The top two high jumpers, Italy’s Gianmarco Tamberi and Qatar’s Mutaz Barshim, were tied at the end of the event and appeared headed for a “jump-off” to decide who should get the gold medal. Instead, the two athletes decided to share it.

For many observers, it was the ultimate sign of sportsmanship. Others, however, were shocked. Why would someone work their whole life to be the best in the world, only to share the glory?

We get it. That’s because at IL Group, there are times when we partner with competing insurance providers to optimally meet a client’s business needs. But the question remains—why?

We’re more than an insurance provider.

When IL Group was founded more than 30 years ago, we decided we could provide better value to our clients by being both an insurance provider and a broker. From that point on, we built a team of the most experienced and knowledgeable insurance experts in the mortgage industry.

We also knew there would be times when a lender, bank or servicer may benefit from another insurance carrier’s products and services. Because we’re an independent agent, we are happy to get bids from other providers and present them to our clients, so they can compare options side-by-side. We do this at no extra charge, too.

There are other insurance providers that partner with competitors. Yet most of those insurance providers only partner with competitors for certain types of polices or services.

As far as we know, no other insurance provider partners with as many different competitors as we do.

We’re a one-stop shop.

When you choose a provider, you’re often restricted to the policies and services they offer. If you have others insurance needs—which most companies do—you’ll have to go elsewhere to find a provider that offers those products. That means managing relationships with multiple providers, which is not only cumbersome but potentially risky as well, considering lenders are responsible for the work their third-party providers do. 

By partnering with competitors, we’re able to provide clients with all the insurance products and services they could ever need. From lender placed insurance to tax services, flood zone determinations, loan tracking, cybersecurity coverage and more, we can really do it all.

Plus, when you have an insurance broker that partners with the competition, you don’t have to maintain multiple relationships—everything you need can be provided through one company. And as a one-stop shop, we also take the time to work with our clients to better understand their unique needs.

We win when our clients win.

At IL Group, we pride ourselves on offering the widest selection of insurance products and services in the market. But there are times when a client might benefit from another carrier’s solutions. In such cases, we have no problem letting them know. That’s because we believe what’s good for the client is good for us, too.

However, as an independent agent, we’re not just committed to finding lenders the best coverage. We’re also dedicated to monitoring changes in coverage to make sure you always have the protection you need. Our insurance experts work hand-in-hand with your team when implementing policies, and we train your staff on these policies, too.

If you want to see for yourself what it’s like to get multiple quotes from different providers and a single point of contact to manage your needs, we’d be happy to show you. Just reach out to us at 866-300-7020 or drop us a note at info@ILgroup.com.