ChoicePoint announced Insurity has enhanced its Policy Decisions policy administration product line for property/casualty insurance with the addition of Quick Quote. Policy Decisions incorporates complete policy life-cycle administration services--from application intake to rating and underwriting and from policy issuance to renewal and reinsurance--on a single Web services platform.
Quick Quote, an optional Web-enabled module, allows agents and brokers to produce a commercial lines quote and associated premium indication using a single screen. To ensure accurate and consistent quoting and issuance, Quick Quote uses the same rating engine used to produce full quotes.
"Quick Quote was developed to support carriers that recognize the need to differentiate themselves by giving their agents and brokers technology that makes it easy to do business with them," says Bill Dochterman, Insurity vice president of product management.
Rating engine integration was a critical design requirement. "Rating consistency is a significant benefit of this system," Dochterman says. "We wanted agents and brokers to get the same quote they would get if they were entering the information into the carrier-deployed policy administration system."
Carriers benefit from not having to support a stand-alone quick quote application or "translating" the quick quote into their policy administration systems. Insurers have the option of extending this functionality with Application Data Capture. Leveraging the information already entered via Quick Quote, agents and brokers can provide the additional data required to submit a full application.
Quick Quote and Application Data Capture also offer custom settings. The user interface and rules can be tailored easily to meet the needs of the individual carrier and its agents.
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