Tampa, Fl (PRWEB) February 09, 2017
IVANS, a division of Applied Systems, today announced new innovative capabilities to expand digital distribution and servicing of insurance products throughout the insurance lifecycle. Leveraging its network of more than 30,000 agencies and 380 MGAs and insurers, IVANS' latest enhancements enable agencies, MGAs and insurers to identify new business opportunities and markets, as well as data-driven market insights, to drive profitable growth.
IVANS provides insurers an industry-first search engine to identify new business opportunities with agencies. Insurers can create a list of target agencies based on a broad search by industry code, line of business or location to drive more effective discussions with their agency partners and prospects. Additionally, IVANS allows insurers to directly communicate current appetite to agencies, expanding marketing capabilities to direct more in-appetite submissions.
IVANS enables insurers to:
- Expand agency distribution footprint: Initiates the agency appointment process by providing a list of non-appointed agencies for insurers to begin conducting business with.
- Build new business with current agencies: Informs insurers searching for target segments where potential growth opportunities exist within their agency base to expand their current relationships.
- Identify future agency risks and growth areas: Initiates conversation between insurers and agencies interested in new lines of business to begin establishing future relationships.
- Automate appetite communication: Enables insurers to communicate appetite when agents and MGAs begin searching for a market to submit their new and renewal commercial insurance business.
- Gain data-driven market insights: Measures projected premium renewal rate change against industry averages, providing insurers insights into the most profitable lines of business and competitive rates.
IVANS also increases agencies’ visibility and access to markets for new and renewal business submission. Agents also gain data-driven market insights to review the latest premium renewal rate change trends across the most placed commercial lines of business. By providing a simple, automated solution to connect to markets and review industry insights, IVANS enables agencies to:
- Gain access to new markets: Enables agents to identify the right markets for each new and renewal business to ensure the insured has the best coverage for their risk while retaining that business. Agents gain visibility into market appetite for commercial risks across 1,000 markets, 2,000 classes, 15 lines of business, and all 50 states.
- Leverage data-driven insights: Gain access to data-driven market insights to review the latest premium renewal rate change trends, enabling agents to advice clients on expected renewal rates while ensuring that insurers are providing the best coverage for the premium rate.
- Search for markets within existing workflows: Reduces time consuming, imprecise steps to find markets by providing streamlined search capabilities integrated into existing daily workflows.
“IVANS’ latest first-to-market innovations are enabling key stakeholders to leverage the largest digital distribution network in new ways,” said Thad Bauer, vice president and general manager, IVANS Insurance Solutions. “For more than 30 years, IVANS has been the industry standard for connectivity, enabling agency-MGA-insurer interactions and automated information exchange. IVANS is transforming the insurance industry by leveraging our network of more than 30,000 insurance agencies and 380 MGAs and insurers to market, distribute and service insurance products through a single exchange never experienced before in the industry.”
IVANS, a division of Applied Systems, is the property and casualty insurance industry’s exchange connecting insurers, MGAs, agencies, and the insured. IVANS cloud-based software automates the distribution and servicing of insurance products. For more than 30 years, IVANS' innovation and expertise has connected 30,000 independent insurance agencies and 380 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.