We’re excited about the new capabilities Instec’s Quicksolver has given us to compete in our marketplace.
Naperville, IL (PRWEB) March 22, 2016
OnPoint Underwriting, a leading program administrator, has provided niche programs nationally for the past 29 years. The company’s expertise in underwriting, distribution, and product innovation has led to its long-term tenure with some of the most highly-regarded insurance carriers in the industry.
OnPoint recently teamed up with AXIS Insurance for its manufactured housing community program. Neither company had a ready-to-use policy administration system for this program, and OnPoint was faced with the choice of building a system in-house or searching for off-the-shelf software that would provide compliant rates, rules and forms. Fortunately, AXIS had worked with another managing general agent (MGA) who had found success using Instec’s Quicksolver, and OnPoint chose to go with this system that its carrier trusted.
OnPoint signed with Instec in the second week of December, and by the last week of January was quoting and binding policies with Quicksolver. This unusually-fast six-week implementation time has become standard practice for Instec, leveraging an agile process that implements critical features first, and adds nice-to-haves incrementally. Implementations are also kept short through the use of Instec’s out-of-the box bureau-based rates, rules and forms, and a library of customizations from previous clients that new clients can draw from when configuring the system.
“OnPoint’s experience is typical of what we’ve been seeing with our clients,” said Kevin Mason, Executive Vice President of Instec. “Our implementation approach is to configure, rather than build, and we provide self-configuration training to all of our new clients at the front end of a project. A timeline of six to ten weeks for a new policy administration system may be unheard of in the rest of the industry, but it’s business as usual for us.”
Also contributing to OnPoint’s fast system start-up was a decision to deploy in the cloud. Instec offers both cloud and on-premises deployment options, and has been seeing more clients gravitate toward the cloud as a means of eliminating the cost and hassle of configuring, deploying and managing the infrastructure in-house.
“Because program insurance is so unique, insurers and MGAs see it as an opportunity for new revenue in an otherwise crowded market,” said Scott Marshall, President of OnPoint Underwriting. “We needed a system that could be implemented quickly and produce a product that would exceed the expectations of our carriers, producers, and policyholders. Quicksolver, with its content that’s always up-to-date and the flexibility to configure new coverages ourselves, was the answer.”
Looking ahead, OnPoint will use Quicksolver’s business intelligence and analytics tools, based on Excel ® PowerPivot, to track key operational metrics.
“We’re excited about the new capabilities Instec’s Quicksolver has given us to compete in our marketplace,” said Marshall, “and we’ve only just begun to tap into its full potential.”
Instec delivers best-of-breed rating and policy administration solutions to P&C commercial insurers, MGAs, MGUs, and the solution providers that serve them. Since 1982, Instec’s solutions have empowered insurers and general agents to get and keep their competitive edge, efficiently create highly specialized insurance products, go to market quickly, and scale with a minimal IT footprint. To learn more, visit http://www.instec-corp.com.
About OnPoint Underwriters
OnPoint is a leading program administrator creating on-point solutions through engaged professionals. We deliver tailored solutions to niche industries to help you and your unique needs. OnPoint’s nationwide programs lead their respective industries and are backed by top-rated carriers through our team of engaged professionals. We have built a reputation as a true partner in providing insurance solutions. We realize our success depends on your success and our staff is empowered to take actions that benefit you and ultimately drive that success. Leveraging deep industry knowledge to produce advancements in underwriting program design is our unique approach and it gives us the ability to work harder, smarter and more efficiently for you. For more information, visit http://www.OnpointUnderwriting.com