Agencyport, Valen Partner to Help Commercial Lines Carrier Reduce Costs, Improve Risk Selection
Staff Writer | May 13, 2015
Agencyport Software and Valen Analytics announce that mutual customer, Baldwin & Lyons, will integrate solutions from each vendor to help control losses and improve the quality of business it chooses to write.
A commercial P&C insurer specializing in the transportation industry, Baldwin & Lyons has licensed Agencyport’s web distribution solution, AgencyPortal, for its independent agents since 2010—first for commercial auto lines and later, workers’ compensation. In preparation for expansion into new territories, the carrier recently committed to adding additional analytical capabilities to its underwriting process with the goal of becoming more selective in the workers’ compensation business that it writes through its subsidiary, Sagamore Insurance Company.
Baldwin & Lyons selected Valen’s InsureRight Platform predictive analytics solution, giving underwriters insight into potential risks associated with workers’ compensation policies. Using one of Agencyport’s new software Integration Kits (sets of pre-built software components and documentation that simplify and remove integration risks of AgencyPortal and other major industry solutions), Baldwin & Lyons can now access Valen’s capabilities directly from within AgencyPortal, improving and streamlining the underwriting process.
Agents will continue to enter new business requests into Baldwin & Lyons’ AgencyPortal, which handles all agents/underwriter transactions through a quick quote stage. If an application reaches a full quote status, Baldwin & Lyons underwriters will have the option to run the submission through Valen scoring by making a call to InsureRight directly from within AgencyPortal—with all of the data within AgencyPortal going directly to Valen. If the underwriter ultimately approves the business, it can then be bound by the agent within AgencyPortal.
“The synergies between and complementary capabilities of AgencyPortal and InsureRight will accelerate, improve, and focus our underwriting process,” says Randy Birchfield, executive vice president of sales and underwriting at Baldwin & Lyons. “The fact that the two solutions can be integrated with minimal time and cost, thanks to Agencyport’s Valen Integration Kit, is icing on the cake.”
“Agencyport is committed to helping P&C insurers integrate with their key partners and third party providers as quickly, easily and inexpensively as possible,” says Curt Stevenson, CEO of Agencyport. “Our growing roster of Integration Kits, including those for Guidewire, Lexis/Nexis, and Valen Analytics, are products of that philosophy.”
“Since our partnership with Agencyport formed in 2014, we’ve been excited about what it could mean for our shared customers,” says Dax Craig, CEO and president at Valen. “It’s great to see the value at work at Baldwin & Lyons.”
- Legacy Systems Are Dead. Really? Don't Count On It.
- Now Accepting Nominations for the 2019 ITA Bridge Awards
- It's time to register for ITA LIVE!
- Registration is Now Open for ITA LIVE 2019!
- What to Expect from a Digital Experience Platform Implementation
- ITA Pro Magazine September Edition is Now Available
- It's National IT Professionals Day
- Save the Date for ITA-LIVE 2019
- OneShield Software and UrbanStat Work Together to Improve Real-Time Analytics and Risk Decision-Making
- ITA LIVE 2019 - SAVE THE DATE!
- Insurance Technology Association Announces New Editor-in-Chief
- August 2018 Edition ITA Pro Magazine is Now Available
- Enterprise Architecture in an Agile World
- Top 10 Tips for Securing Your Mobile Devices and Sensitive Client Data
- Industry Insight: 4 Global Insurance Trends in Digital, Data, Content Services and Security
- Diving Deeper into Prioritizing Your Strategic Digital investments
- Why Content Rules
- How Mass Personalization Will Open the Small Business Benefits Market
- At Year End 2017, Will Your Organization Be Protected from Cyber Risks?
- Do Insurance Bots Dream of Mitigating Risk?
- Conditioned to Respond
- Managing & Mobilizing Insurance Data in a Connected World
- Race to the Finish Line
- New Tools, New Opportunities in Claims
- ITA LIVE: Reaching Insurance Industry Crossroads
- Advice to Insurance IT Leaders: Keep Your Eye on the Ball
- New Date, Venue for ITA LIVE 2017
- Guidewire Makes Major Push to Small and Midtier Market by Acquiring ISCS
- Insurance Disruption is Happening Right Now
- Insurity Adds Strategic Investment Partner, General Atlantic
- Beyond Transformation: The Convergence of Finance, Risk, and Actuarial Functions
- The Rapid Evolution of Consumer Protection Regulation
- Talent Hunt: Finding, Attracting, Retaining Top People
- Insurers Flexing Their Distribution Models
- Technology Driving Disruption in Insurance
- Fear of ‘Next Bubble’ Challenges Life, Annuity Carriers
- Technology Allows Commercial Lines Insurers to Stand Out
- Single Sign-on Viewed as Biggest Tech Challenge for Agencies
- ISCS Observes 20th Anniversary; Scurto Predicts Major Changes Ahead
- Policyholders and Their First Impressions
- Progressive Making Progress on the UBI Front
- High and Dry: Insurers Search for Disaster Recovery Plans
- Insurers Sign The (Un)Dotted Line
- Reflections of a Retired Insurance CIO
- Mobile Device Management Just One Answer to BYOD Issue
- Lessons from GEICO and Progressive on Winning the Critical Buying Stage
- You Are a Target for a Cyber Attack
- Web-based Systems are the Next Evolution in Claims Technology
- Gaining a “Wow” Experience from Web Users
- Time to Shift from Business/IT Alignment to Business/IT Alliance
- Healthcare Insurers Changing to Consumer Model
- Organization is the Key for Selecting Software Vendors
- Analysts Expound on the Needs of the Mid-tier Insurance Market
- Finding the Cure for Obamacare’s Website
- New Software Solutions Benefit Insurers on the Inside and Outside
- Products, Market Impede Investment in Systems for Life Insurers
- Combatting Cyber Threats: Predict, Prevent, Persist
- The Future of Telematics Heads Beyond Insurance
- The Shame in Cyber Security Lapses
- Building Policy Administration Systems for the Future
- Insurers Look Into The Eyes of Their Policyholders
- It’s a New Dawn for the ITA
INSURANCE IT NEWS
- Appointment of Wendy Aarons-Corman as CEO of OWIT Global
- 360Globalnet Connecting with Insurer Community as AAIS Associate Partner
- Agero Names George Horvat as Chief Operations Officer
- FRISS Joins Duck Creek Partner Ecosystem to Provide Risk and Fraud Detection Solutions to Property & Casualty Insurers Worldwide
- Nationwide Announces New Tech Partnership to Improve Safety for Long-Haul Truck Drivers
- Global Investments in Insurtech: Digitalization Taking Hold
- Lucens Group Announces Corporate Name Change to Claimify to Reflect Commitment to its Software Platform
- The Co-operators Drives Innovative Claims Process with Guidewire InsurancePlatform Cloud-Based Predictive Analytics System
The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.
ITA LIVE 2019
The tide is up! It's time to register for ITA LIVE 2019, our annual educational and networking conference! Our theme is "The InsurTech Revolution: Cutting Through the Hype." and we'll be bringing in a torrent of industry thought leaders, amazing insight and wonderful perspectives on the world of insurtech and its impact on the insurance landscape.
ITA LIVE 2019 will present real-life examples of true startup technologies that are helping insurers gain real advantage -- and a competitive edge -- in the marketplace. We’ll highlight the more successful InsurTech partnerships, while offering case studies that demonstrate exciting innovation and cutting-edge techniques impacting all aspects of the insurance ecosystem.
Ride the wave to LIVE 2019. Sign up today! We look forward to seeing you in May, 2019!
BLOGS AND COLUMNS
You have surely heard it said that small businesses are the growth engine for America. Today, the phrase has a special ring to it for benefits... READ MORE
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
As Guidewire Software prepares for the start of Connections, its 11th annual user conference that begins on Nov. 2, Brian Desmond, chief marketing... READ MORE