The Business Challenge
One of our global insurance company customers wanted to launch a new P&C Commercial lines Middle Market binding authority program in multiple US states. To meet projected profitability goals they needed a technology platform that would enable them to keep internal staffing costs low while at the same time maintaining control and oversight on the business being underwritten by their appointed agents.
The Result
Our customer deployed their Middle Market binding authority program in 6 months using Solartis Insure. Since the launch, the program has exceeded its annual revenue goals and has expanded into additional coverages, states and appointed agencies.
The Solution
Solartis Insure – an enterprise level quote, full policy lifecycle administration software-as-a-service in a Private Cloud environment. Primary users of the Contract Binding Program are the carrier’s brokers and underwriters.
The Solartis Edge
Customer Self Service – Implement a contract binding system that is primarily used by the brokerage community. Solartis Automation (and its self service capabilities) exceeded our client’s expectations in business growth, underwriter control and reduced operational expenses.
Time to market – Contract Binding was a startup Insurance Program. Joint agreement and close collaboration on functionality, business flow and system capabilities were essential to meet the aggressive initial development timeline. Ongoing collaboration is required to satisfy new business requirements and functionality changes as the product matures.
