OnPoint Underwriting Selects Instec Quicksolver Policy System
Staff Writer | March 17, 2016
Program administrator OnPoint Underwriting has selected the Quicksolver policy administration system from Instec. OnPoint recently teamed up with AXIS Insurance for its manufactured housing community program. Neither company had a ready-to-use policy administration system for this program, and OnPoint was faced with the choice of building a system in-house or searching for off-the-shelf software that would provide compliant rates, rules and forms.
AXIS had worked with another managing general agent (MGA) who had found success using Quicksolver and OnPoint chose to go with this system that its carrier trusted. OnPoint signed with Instec in the second week of December, and by the last week of January was quoting and binding policies with Quicksolver.
This unusually fast six-week implementation time has become standard practice for Instec, leveraging an agile process that implements critical features first, and adds nice-to-haves incrementally. Implementations are also kept short through the use of Instec’s out-of-the box bureau-based rules and forms, and a library of customizations from previous clients that new clients can draw from when configuring the system.
“OnPoint’s experience is typical of what we’ve been seeing with our clients,” says Kevin Mason, executive vice president of Instec. “Our implementation approach is to configure, rather than build, and we provide self-configuration training to all of our new clients at the front end of a project. A timeline of six to ten weeks for a new policy administration system may be unheard of in the rest of the industry, but it’s business as usual for us.”
Also contributing to OnPoint’s fast system start-up was a decision to deploy in the cloud. Instec offers both cloud and on-premises deployment options. The cloud has eliminated the cost and hassle of configuring, deploying, and managing the infrastructure in-house.
“Because program insurance is unique, insurers and MGAs see it as an opportunity for new revenue in an otherwise crowded market,” says Scott Marshall, president of OnPoint Underwriting. “We needed a system that could be implemented quickly and produce a product that would exceed the expectations of our carriers, producers, and policyholders. Quicksolver, with its content that’s always up-to-date and the flexibility to configure new coverages ourselves, was the answer.”
Looking ahead, OnPoint will use Quicksolver’s BI and analytics, based on Excel PowerPivot, to track key operational metrics.
“We’re excited about the new capabilities Quicksolver has given us to compete in our marketplace,” says Marshall, “and we’ve only just begun to tap into its full potential.”
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