Tampa, Florida (PRWEB) March 26, 2015
IVANS Insurance Solutions, a division of Applied Systems, today revealed compelling data that demonstrates continued connectivity and data exchange growth between insurance carriers and independent insurance agencies. Data reveals significant market adoption and success of Activity Notes, Claims Download, and Commercial Lines, which provide increased time and cost savings and improved client servicing for agencies, MGAs, and carriers leveraging the Download services.
IVANS solutions are built on the ACORD Standards, the global insurance data standard for connectivity and data exchange between carriers, MGAs and independent agencies in the property and casualty insurance industry. “We thank IVANS for their continued recognition and use of ACORD Standards,” said Cal Durland, ACORD director of Industry Relations. “We appreciate IVANS’ role in helping agents achieve faster, more efficient and error-free workflows.”
IVANS Download and IVANS Real-Time solutions enable insurance carriers and independent agencies to exchange data more efficiently and increase the value of the independent insurance distribution channel. As the industry interface leader, insurance carriers, MGAs and independent agencies rely on IVANS’ open platform to share current, accurate data for quoting, policy marketing, underwriting, billing, customer service and other insurance business activities.
Key growth trends from the research include:
- Proliferation of IVANS Activity Notes – since launching the Activity Notes service in 2012, IVANS has experienced a 42 percent increase in unique agents that have adopted the download service that allows carriers to generate and send a variety of policyholder-related messages directly into an independent agency management system. Notably, total transactions from 2012 to year-end 2014 increased by 253 percent.
- Increase in IVANS Claims Download – at the end of 2014, 5,702 unique agents were receiving IVANS Claims Download and 4,353,339 IVANS Claims Download transactions were conducted, exhibiting a 42 percent and 29 percent increase, respectively.
- Expansion of active carriers and agencies using IVANS Download – from 2012 to year-end 2014, IVANS has grown its active carrier base by four percent and agency base by 8.6 percent. Notably, the average active agency connections number has increased by 15.3 percent.
- Growth of IVANS Commercial Lines Download – at the end of 2014, 17,659 unique agents were receiving IVANS Commercial Lines Download, representing a 12 percent increase from 2012. Additionally, total transactions increased by 14 percent to 8,193,537 in 2014.
“Consumer expectations for anytime, anywhere timely service is redefining the insurance experience, requiring carriers to deliver more efficient information exchange throughout the independent insurance distribution channel,” said Thad Bauer, vice president and general manager of IVANS Insurance. “The continued market growth demonstrates a growing appetite from carriers to provide download services and even greater interest from agencies to receive download, particularly Activity Notes, Claims, and Commercial Lines. As the industry leader, IVANS remains committed to delivering innovative services that further drive connectivity and data exchange among key constituents of the insurance lifecycle.”
About IVANS Insurance Solutions
IVANS Insurance Solutions, a division of Applied Systems, is the property and casualty insurance industry's partner and trusted technology leader for advanced carrier-agency-MGA information exchange. IVANS makes insurance business easier with secure information exchange, data translation and managed connectivity solutions that deliver efficiency and better customer service capabilities to carriers, independent agencies and MGAs. More property and casualty insurance companies rely on the IVANS platform than any other company to create greater value from information exchanged in insurance business.