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.
Featured articles
- 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
- Sapiens DECISION Recognized as a “Hot Vendor in Digital Business Platforms, 2017”
- DATAMATX Announces Prelude Software as New Solutions Partner
- Quadient Appoints Christian Hartigan President and General Manager of the Americas
- Gibraltar BSN Life Berhad Selects Majesco Distribution Management and Majesco Digital Solutions
- Desjardins General Insurance Group Deploys EIS Suite for Commercial Lines
- Acuity Modernizes Customer Communications Management with OpenText Exstream and ValueMomentum
- COUNTRY Financial Joins Roost’s Home Telematics Program
- Roost partners with The Weather Company
ELECTRONIC CHAT
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.
-
Electronic Chat – Shashaanka Ashili
Robert Regis Hyle
Being a hardware engineer with an entrepreneurial fellowship in the surgical device space, he decided to invent a solution to reduce the incidence of... READ MORE
WEB EVENTS
ITA is pleased to present the 2014 Webinar Series. We have many topics for you to choose from and attendance is open to all ITA members. The webinar topics are current and exciting — ranging from predictive analytics to telematics and will focus on the direction insurance carriers need to follow for the future. All webinars are presented by insurance IT professionals along with some of the leading analysts and consultants in the field. There is no cost to attend an ITA webinar. For more information and to register for the webinar, click the “title” of the webinar below.
BLOGS AND COLUMNS
-
Enterprise Architecture in an Agile World
Rob McCurley
It has become a common refrain over the past few years to view the practice of enterprise architecture (EA) as something that time has passed by, much... READ MORE
-
Distracted Living: What It Means for Insurance
Mark Breading
One important trend in society over the past decade is our increasing ability to create and consume a seemingly unlimited amount of digital content... READ MORE
only online
-
Down Market Opportunities Beckon Benefits Insurers
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
-
Technology at the Heart of Change in Insurance
With stagnant growth and lingering low interest rates, the life insurance industry faces a challenging future... READ MORE
-
Got Policies? IVANS Service Helps Feed Commercial Lines Producers
Finding insurance carriers willing to write commercial lines risks has always been a challenge for producers... READ MORE
-
Technology Changes Coming Faster than Ever for Insurers
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
Vendor Views
-
Consider Tackling Insurance Fraud Detection Before Claims Automation
Fraud detection has always been and will continue to be a critical component of claims management. Learning the lessons from current claims Straight... READ MORE
- Vendor Views
Partner News
-
Distracted Living: What It Means for Insurance
One important trend in society over the past decade is our increasing ability to create and consume a seemingly unlimited amount of digital content... READ MORE
- Partner News