IVANS Solution Matches Commercial Lines Carriers, Agents
Staff Writer | October 20, 2015
IVANS Insurance Solutions, a division of Applied Systems, announces the release of IVANS Market Appetite, a search engine for property and casualty insurance agents and brokers to identify carrier appetites for commercial lines risks to better serve insured clients. The solution will be available in the upcoming release of Applied Epic 2016 in Q4 2015.
IVANS Market Appetite allows agents to see a list of U.S. insurance carriers ranked by market appetite at the moment of opportunity. This new search engine improves productivity by reducing time spent on the traditional ways of identifying carrier appetite, including referencing carrier risk guides, accessing carrier websites, search engines, historical agent experience, or directly contacting underwriters on an individual basis.
By providing a centralized and automated source for representing carrier appetite, carriers increase visibility among agency partners for stronger relationships and more opportunities to win targeted business. IVANS Market Appetite will be an open platform accessible to all agencies utilizing IVANS Exchange, an online tool for agencies to quickly view and manage carrier and MGA download connections, in the first half of 2016.
“Assessing carrier risk appetite has been an inefficient manual process often hampered by information lags and outdated, inaccurate information that can diminish agents’ and carriers’ ability to effectively conduct business,” says Paul Warga, vice president of product management, IVANS Insurance Solutions. “IVANS Market Appetite overcomes this challenge and improves agent productivity by providing a streamlined search to assess carrier risk marketing at the moment of opportunity. Additionally, IVANS Market Appetite enables carriers to more effectively communicate their demand for certain commercial lines risks to increase submissions and drive premium growth.”
To support this offering, Applied Systems recently acquired EvoSure, an insurance technology firm that matches insurance agents and brokers with commercial insurance carriers based on risk appetite. EvoSure brings strong domain expertise, industry relationships and technical talent to Applied to further automate connectivity and risk-related data exchange between insurance carriers and the independent agency channel. The combined entity will provide insurance companies with the benefit of increased investment in technical innovation, expertise and product enhancements that drive efficiency in matching commercial risk opportunities.
“For quite some time, our customers have expressed strong interest in better integration with the powerful data solutions Applied Systems has engineered,” says Matt Foran, CEO of EvoSure. “In joining IVANS, we will be able to expand our appetite solutions and deliver products that are unprecedented in the commercial insurance marketplace.”
“Changing consumer demand and competition are requiring the insurance marketplace to be more connected and automated for effective customer servicing,” said Reid French, CEO of Applied Systems. “The acquisition of EvoSure and the introduction of IVANS Market Appetite furthers Applied’s commitment to automating connectivity and data exchange between insurance carriers and the independent agency channel for the benefit of the entire P&C insurance lifecycle.”
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