Online insurance marketplace ePolicy (www.epolicy.com) recently formed wholly-owned subsidiary Insurance Technology Solutions (ITS, at www.insurancetechnologysolutions.com) to provide Web-based technology to automate critical carrier and producer activities for small commercial and professional liability policies.
ITS has separately branded this technology “the RQBI Solution” because it enables insurance companies to rate, quote, bind, receive payment, and issue policies online in real time. EPolicy claims this reduces costs of delivering small commercials and professional liability insurance.
“Insurance companies and producers want to take full advantage of the Internet and its tremendous cost-savings and efficiencies, but they're concerned about the time and financial commitment to develop their own technology,” said ePolicy CEO Don Martin. “ITS offers the opportunity for carriers to substantially reduce costs, increase revenue, and provide a better solution for their agents and brokers.”
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