BOSTON, MA – May 3, 2010 — AgencyPort (a Sword Group company), the leading provider of web-based distribution solutions to the property and casualty insurance industry announces that Concord Group Insurance, one of the largest writers of personal insurance in New England, and several of Concord Group’s independent agents are piloting the use of the quote submission service by Appulate to bridge new policies online with Concord Group.
Concord Group now offers full rate, quote and bind via the Appulate service for personal auto in New Hampshire, Vermont, and Maine and homeowners insurance in the same states and Massachusetts. Appulate is a privately-held company headquartered in Agoura Hills, California which provides a new path for agent to carrier upload for new business quote requests. Independent agents use Appulate software to open ACORD new business submission .pdf forms in their agency management systems and request a quote from Concord Group.
“We recognize that agents want efficient interface with Concord Group” said Concord Group’s Senior Vice President and Chief Operating Officer Warren C. McLean, Jr. “In fact, it is an imperative that the quote, bind and issue process for agents achieve maximum efficiency in this competitive marketplace. The new bridge enables agents to save time quoting policies and lets them focus on closing more sales with Concord Group.”
Concord Group licensed AgencyPort’s AgencyConnect interface solution to process inbound quote requests from multiple systems including agency management systems (e.g. Vertafore or Applied Systems), comparative rating systems (e.g. SilverPlume’s PL Rater, or Boston Software’s WinRater/SinglePoint) and now from Appulate.
“Appulate enables agents and carriers to bypass the traditional upload channel via TransactNow and Transformation Station and we have completed integrations with carriers in the past but none have gone as well as the Concord Group project,” said Jeff Harris of Appulate. “We were glad Concord Group had a proven product on the other end of the data pipe like AgencyConnect and we are really pleased to offer quoting by Concord Group to agency users of Appulate.”
AgencyConnect processes the policy data sent by Appulate via ACORD XML and applies Concord Group’s underwriting rules to process any automated data corrections or automatically adjust limits to Concord Group’s insurance product specifications. With secure, single sign-on authentication in place, the agent is then presented with a list of any further data errors or missing information so that the agent can finish the whole process in seconds and be bridged into E-Coach, Concord Group’s agent portal for online binding.
“Concord Group deploys AgencyConnect in the way it was designed, as a complete agency interface solution,” said Mason Power, VP of Product & Market Strategy at AgencyPort. “Concord Group is differentiated in their market because AgencyConnect not only transforms complex agency interface channels into one stream of normalized ACORD XML but also integrates with rating and other systems at Concord to enable a true real-time, round trip experience for the agent.”
AgencyPort (www.agencyport.com) is the leading provider of web-based solutions designed specifically for property and casualty insurers. Our agency portal and interface products make it easy for agents to transact business, enhance the underwriting process and extend the life of carrier’s existing policy administration systems. The result is a significant increase in process efficiency for both carriers and agents. The company was founded in 2000 and is headquartered in Boston, MA. In November 2009 AgencyPort was acquired by Sword Group (www.sword-group.com).
About Concord Group Insurance
Concord Group Insurance (www.concordgroupinsurance.com) is one of the largest writers of personal insurance in New England. At Concord Group Insurance, we are committed to providing innovative products and dedicated service to our thousands of policyholders who are also the owners of our company. In business since 1928, Concord Group has consistently earned an A (Excellent) rating from A.M. Best Company, a national insurance rating organization.
John Natale, VP Marketing
Concord Group Insurance Companies
800.852.3380 ext. 6311
Appulate (www.Appulate.com) provides a best of breed bridging technology that allows retail agents to send ACORD, supplemental, loss and other data to carriers, wholesale brokerages, MGA and TPA receivers. Using the ACORD XML standards, Appulate offers an unprecedented level of connectivity to streamline business processes. The combination of our advanced technology, outstanding service and experienced team allow us to create products and services with a high value proposition. The company was founded in 2005 and is headquartered in Agoura Hills, CA.