Once an Agent has Requested to Bind, there is a 3-step process that must take place in order for the submission to be bound.
- The retail agent will receive policy documents to sign via DocuSign. The retail agent will sign their portion first.
- Once the retail agent has signed their portion, the insured then automatically receives an email asking them to sign their portion of the documents.
- After completing the DocuSign, the insured will need to make a down payment to First Insurance Funding.
Cover Whale WILL NOT bind a policy prior to ALL 3 steps being completed.
The insured will receive the down payment link with their DocuSign policy documents and will need to follow that link to make their down payment. You can view the policyholder's experience in this short video.
Once the down payment has been collected and the policy has been bound by Cover Whale, all bound policy documents will be forwarded to the retail agent. All COI’s will be available in the Cover Badger portal within minutes of the policy being bound.