How Technology Is Transforming Surety Bonds

A Digital Shift in Surety

In the world of commercial surety, efficiency is everything. Yet, for many insurance agents, the traditional way of ordering and issuing surety bonds can feel frustratingly slow and manual. Agents often find themselves bogged down by endless forms, back-and-forth emails, follow-up phone calls, and tight client deadlines. Even a simple transactional bond can turn into a time-consuming task when every step requires manual input and approvals. So what can be done to change the trajectory of transactional surety?

Defining Transactional Surety

Transactional surety refers to commercial surety bonds that are issued on a one-off basis, typically with a straightforward underwriting process. These include license and permit bonds, notary bonds, contractor license bonds, and similar types of lower-risk obligations. Agents often handle these in high volume, and while each transaction may be simple, the cumulative time spent managing them adds up quickly. Without automation, errors happen more easily, turnaround times stretch out, and agents are left juggling multiple client needs without a reliable way to keep the process moving forward.

Managing renewals and reissuing bonds also present potential pain points for agents. Without an efficient and streamlined system, it’s easy for important updates to get missed, and agents sometimes scramble at the last minute to meet client expectations. The entire experience can feel reactive rather than proactive, which ultimately puts stress on the agent-client relationship and can limit an agent’s capacity to take on new business. That’s where Merchants Bonding Company™ comes in.

Tech Tools to Use: Hub Express and API Integration

To address the challenges inherent in the commercial transactional business, Merchants Bonding Company leveraged its deep surety knowledge to develop two important tech tools; the Hub Express and Merchants’ API.

The Hub Express

The Hub Express is Merchants’ trademarked platform designed to empower agents and their clients in the commercial surety process. With the Hub Express, agents can easily share direct bond links, allowing clients to order, pay for, and download commercial bonds instantly online.

Beyond client convenience, the Hub Express offers significant advantages to agencies, including streamlined workflows, 24/7 functionality, reusable links, and storefront customization. If you are seeking an easy, ready-to-use solution for transactional surety, the Hub Express provides a turnkey solution – enabling agencies to generate revenue around the clock.

Hub Express Highlight: Otterstedt Insurance Agency

Otterstedt Insurance Agency demonstrated the power of the Hub Express by creating a single bond link and distributing it through a mass email campaign to members of the New Jersey Contractor Association. This simple, scalable tactic resulted in over 950 bond orders, significantly reducing the manual workload for staff while capturing a high volume of business in a short period. It’s a prime example of how automation and strategic marketing can drive efficient growth.

API Integration

An API, or Application Programming Interface, acts as a bridge that enables different computer systems to communicate and share information seamlessly. With the correct infrastructure in place, an agency can connect their internal systems, via Merchants’ API, directly with the Hub.  

Merchants’ à la carte approach allows agencies to select from API building blocks, representing the lifecycle of the bonding process. The result? Highly customized automated solutions, specific to an agency, that can streamline processes and improve efficiency. Whether you are managing high-volume transactions or unique agency workflows, an API integration delivers a scalable, integrated surety experience tailored to your needs.

API Integration Highlight: Worldwide Insurance Specialists

Worldwide Insurance Specialists began with a limited API integration for just a few bond types but quickly scaled up to offer all commercial bonds directly through their website. This seamless integration empowered sub-agents to quote and issue bonds instantly, boosting premium growth and enhancing competitiveness. Their success showcases the ability of Merchants’ API to deliver speed, flexibility, and profitability.

Experience the Future of Surety

Whether you’re looking for an easy, ready-to-use solution using the Hub Express or a fully customized integration, Merchants offers tech tools for you, your clients, and your agency. Merchants’ tech tools help to:

• Eliminate repetitive administrative work.
• Allow you to choose what to automate and how.
• Enable bond issuance overnight or through marketing campaigns.
• Support partnerships with a tech-forward, surety-focused carrier

Ready to experience these innovations?

Request a demo today or contact Merchants for integration support to see how you can transform your agency’s surety operations. 

If you’re ready to get a bond, you can contact your local insurance agent or use our Find an Agent tool to connect with a Merchants Surety Elite agent who will help you get the surety bond you need.

All information provided is subject to change.