MSB and Vertafore Partner to Create Once and Done Homeowners Transactions
By Msb, PRNEWednesday, March 24, 2010
NEW BERLIN, Wisconsin, March 25, 2010 - MSB, the leading worldwide provider of building cost data and estimating
technology to the property insurance industry and Vertafore, a leading
provider of software to the insurance industry, have entered into a
partnership agreement to provide Vertafore's PL Rating(TM) clients with
seamless integration of pre-filled property data using MSB's Residential
Component Technology ("RCT"). The system now enables real-time, once and
done, Insurance To Value ("ITV") processing by accessing multiple carrier
sites simultaneously where the agent is licensed by the carrier(s). This
improves speed and workflow efficiencies for agents.
With this innovative solution, MSB will first pre-fill building
characteristics and other information needed for completion of homeowners
insurance applications using its industry leading InterChange(TM) ("IC")
service. Then, using MSB's new Grand Central Express ("GCX") web-hosted
network, estimate requests will be simultaneously routed to the appropriate
MSB web-hosted sites ("RCT Express" sites) for that agent.
Agents will then simultaneously complete estimates of replacement cost
from the appropriate carriers represented within MSB's industry leading RCT
Express(TM) service. Immediate transfer to the relevant carriers' RCT
Express(TM) sites also means instant calculation of those carriers' valuation
processes within the PL Rating workflow. Agents will reduce turn-around time
while increasing the accuracy of the homeowners quoting process. This
approach will eliminate agents' current, multiple data entry process and
create a true once and done environment for ITV.
"MSB is committed to solving some of the biggest challenges facing agents
writing homeowners business in the marketplace today," says Jerry Fox, VP
Agency Operations. "With IC and GCX, the ITV process is truly a real-time,
multi-carrier transaction. By combining Vertafore's PL Rating(TM) and MSB's
Grand Central Express(TM) services, the partnership enhances the
multi-company comparative rating process. The agent will get accurate rates
quickly so they can do their job of recommending products to clients instead
of inputting data multiple times. This is a real win-win situation for PL
Rating clients and the carrier network using our RCT ExpressLync(TM)
service."
"We've been partnering with MSB for many years, and as we've seen the
exponential growth and the adoption of pre-fill data by our clients on the
auto side, this new agreement adds tremendous value to our customers for
homeowners work flow enabling a much more seamless interview process," said
Dave Acker, Vice President, Rating and Connectivity at Vertafore. "Combining
this with the carrier base of RCT ExpressLync(TM) customers and their ability
to receive the ITV data from its agents reduces the quote to issue time for
all participants."
About MSB
MSB, also known as Marshall & Swift/Boeckh, is the leading supplier of
local building cost information, residential and commercial property
valuation technology, analytics and services for the property and casualty
insurance sector in the United States and Canada. MSB has five offices
throughout the U.S. and Canada. For information, please visit MSB on the web
at www.msbinfo.com.
About MacDonald, Dettwiler and Associates (MDA)
MSB is owned by MDA. MDA provides advanced information solutions that
capture and process vast amounts of data, produce essential information and
improve the decision-making and operational performance of business and
government organizations worldwide.
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of information solutions, ranging from complex
operational systems, to tailored information services, to electronic
information products.
MDA employs more than 3,200 people in locations across the United States,
the United Kingdom and Canada. The Company's common shares trade on the
Toronto Stock Exchange under the symbol TSX:MDA.
About Vertafore
Vertafore is the leading provider of software and information to the
insurance distribution channel including independent agents, brokers, MGAs,
carriers and reinsurers. Vertafore leverages a unique industry presence to
deliver meaningful solutions - powerful technology, critical information and
robust insights to help organizations effectively respond to business
challenges and capture new opportunities. Vertafore solutions have helped
more than 17,000 customers and 500,000 users gain a competitive advantage to
accelerate their business performance. For more information about Vertafore,
please visit www.vertafore.com.
Todd Eyler, Vice President - Marketing of MSB, 1-800-809-0016, ext. 3687, todd.eyler at msbinfo.com; Michelle Craig of Nyhus Communications, +1-206-323-3733, michelle at nyhus.com, for Vertafore, or Linda Caudle of Vertafore, +1-425-354-6043, lcaudle at vertafore.com
Tags: March 25, Msb, New Berlin, United Kingdom, wisconsin