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Instec, SNL iPartners Forge Alliance in the Commercial P&C Market

Staff Writer | September 10, 2014

Instec announces its partnership with SNL iPartners. This strategic alliance means policy data from Quicksolver, Instec’s policy administration system, will power SNL iPartners’ solution, providing business intelligence and analytics to Instec client companies.

“The game is changing in the insurance industry.  Analytics is the key battleground for insurers who need to identify new market opportunities quickly, create a customized offering to address the needs of that particular market, and then—on an ongoing basis—evaluate how the opportunity is playing out, in terms of profitability and expansion,” says Ray Simon, president and CEO of Instec, “SNL iPartners was a logical choice. From a partnership perspective SNL iPartners’ rich data model, pre-configured dashboards, and ad hoc reporting capabilities are a natural fit for insurers and growth oriented general agents that need to efficiently achieve their competitive best.”

Unlike most policy administration systems that simply facilitate quote, binding, and policy issuance tasks, Quicksolver retains business critical policy data in an easy-to-access and leverage format.  This accessible data structure means that the policy data therein can be easily served up to users in an intuitive, operational reporting format, through the use of any number of tools they may have at the ready.

Integrating SNL iPartners’ on-demand analytics with Quicksolver policy data meets the following critical needs for carriers, MGAs, and MGUs looking to ensure their current offerings stay competitive as they carve out new market opportunities:

  • Fast book health determinations
  • Easy territory management
  • Intuitive targeting protocol
  • Efficiently identify expansion opportunities

“Establishing this partnership with Instec is beneficial to our respective companies as well as our mutual clients,” says Robert Lasher, senior director of SNL iPartners. “In addition to our offerings being a good complement providing a rich set of capabilities, there is a lot of synergy between our organizations. Quicksolver captures a tremendous amount of data, a high value asset that insurers can leverage with our business intelligence solution in order to make informed ‘next step’ determinations.”

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