American Access Casualty Goes Live on SpeedBuilder’s BindExpress
Staff Writer | September 03, 2014
SpeedBuilder Systems, Inc., announces that American Access Casualty Company (AACC) has gone live with the BindExpress Product Configurator, Rating, and Underwriting modules in the state of Texas. The development included integration with the company’s in-house legacy system, “real-time” rating via QQ Solutions Webrater and ITC TurboRater, and a custom “rate-as-you-go” agent portal. The solution allows AACC to quickly develop, test and deploy rates and rules to all distribution channels, regardless of hardware or software platform.
“BindExpress gives us speed-to-market, providing a single platform for internal systems, an agent website, and third-party raters,” says Matt Reznicek, pricing manager at AACC. “Maintaining one, central engine not only ensures rate accuracy and consistency across all channels, but it also eliminates the time and cost of updating multiple systems.”
“We are pleased with our success at American Access,” says Rod Giess, president of SpeedBuilder Systems. “While BindExpress is a proven solution in commercial lines, adding a leader in the high volume, price-sensitive, nonstandard auto market validates the scalability and robustness of the technology, as well.”
“BindExpress Rating also let’s business users in the pricing department own the rate-setting process,” continued Reznicek. “When we spot competitive changes and other triggers in the market, we can react within days. This straight forward process not only relieves demands on our IT resources, but the quick turnaround impacts our underwriting profit much sooner. We look forward to partnering with SpeedBuilder Systems as we extend the solution to additional states.”
The two companies are also implementing the BindExpress Bulk Rerate module, allowing the AACC Pricing team to do “what-if” modeling, running various pricing scenarios against a database of bound policies, lost quotes, and third-party market basket data. When complete, the total solution will provide additional analysis tools, efficiencies, and automated testing capabilities, as the same rating model used in the Bulk Rerate module is used as-is in all production environments.
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