WOODCLIFF LAKE, NJ October 26, 2020
Colonial Surety Company is thrilled to announce the launch of a direct and digital pre-qualification process for bid and performance I-Bonds®, empowering contractors across the country to simplify, partner, and grow.
Founded in 1930, Colonial Surety Company is a direct seller and writer of surety bonds and insurance products for a wide range of industries and professions. The new launch reflects Colonial’s priority: innovating to provide value-added services to small business owners.
Colonial is rated “A Excellent” by A.M. Best Company, U.S. Treasury listed, and licensed in all 50 states, the District of Columbia, and most U.S. Territories. Colonial has pioneered a simple digital and direct process that allows customers to instantly purchase bonds and insurance online.
Insurtech? Yes, Colonial started the trend—and continues using technology to propel customers forward. The newly launched digital pre-qualification process for contractors illustrates Colonial’s deep knowledge of the pain points of running a construction business — and commitment to making it easier for owners.
Colonial Surety Company has a unique Partnership Account® that arms contractors with fast, digital and direct access to the surety bonds needed to run their construction companies — and real-time financial intel vital to growing their businesses.
With a Partnership Account® contractors:
- Gain control of their bidding and bonding, online and in real-time.
- Utilize powers of attorney to seal and issue their own bid bonds — in minutes.
- Compete with confidential bid bonds — no middleman.
- Order performance and payment bonds easily from a customized digital dashboard.
- Track bids and work on hand in real-time with free management reports.
- Speak directly with Colonial’s lead underwriter as new opportunities emerge.
- Leverage data on a private Owner’s Dashboard to view surety lines, adjust work on
hand, analyze bids—and grow.
Colonial Surety Company is eager to provide the game-changing benefits of Partnership Accounts® to more contractors. It’s hard and sometimes frustrating for construction companies to pause “business as usual” and grow by trying something new. That’s why Colonial’s streamlined, fully digital new pre-qualification process reduces the hassle and time it takes busy owners to apply for a surety line of credit—and adds useful incentives too.
After entering just a few, bare essentials about the business in Colonial’s proprietary online system, all companies that apply receive, for free, their Dun & Bradstreet Financial Stress Score, Commercial Credit Score, and Paydex. Contractors can use these scores to immediately gain new insights into their businesses. Contractors who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite the Partnership Account®. The entire process exemplifies Colonial’s commitment to customers: simple, direct, and efficient, with value-added services built right in. At Colonial, rooting for contractors always matters.
As Colonial’s CEO, Wayne Nunziata says: We have carefully designed every aspect of the new, digital pre-qualification process with busy contractors top of mind. Trust me, this is the most efficient, value-added direct application process you have ever experienced! We welcome contractors across the country to pre-qualify for a surety line of credit. Ultimately, Colonial will take great pride in supporting contractors with Partnership Accounts for their growing businesses.
Start your application to pre-qualify for a surety line of credit and receive free business credit scores. Click Here Now! Watch our demo to see how it all works:
Colonial Surety Company
Written by Eileen Doyle