Leading Comparative Rating Solution Now Available for Homeowner Carriers
Bothell, WA. – June 16, 2016 – Vertafore, the leader in modern insurance technology, today announced the addition of several new homeowner carriers to their flagship comparative rating system PL Rating, expanding the company’s reach into the Florida property market. Since its acquisition of QQSolutions, a Florida based agency management system and rating company, there has been an overwhelming demand to provide this additional service to current Vertafore and QQ™ clients in the state.
“Improving access to the difficult Florida property market will allow our customers a better experience writing and servicing their clients,” said Mark Malis, president of QQSolutions. “While the first step is to offer this functionality in PL Rating, we’ll be embedding the property workflow and Florida markets directly into the QQCatalyst® system to make it even easier for our agencies to get access to this crucial information”.
Vertafore and PL Rating currently have over 10,000 agencies that leverage the rating solutions in 48 states and the District of Columbia. PL Rating also currently has over 150 carriers in production for auto and homeowner’s rates throughout the country, and all of the Vertafore rating products produced well over 200 million real-time carrier transactions in 2015.
“Florida is a very large market and with our recent merger with QQSolutions, we’re expanding and making an absolute commitment to our common customers like we have in other states,” said Dave Acker, vice president and general manager, information solutions at Vertafore. “PL Rating’s integrated third-party data partners allow our clients access to external information required during the quoting process, which makes for a more accurate and bindable quote.”
PL Rating integrates with prefill and automated Insurance to Value (ITV) products from CoreLogic®, as well as state Public Protection Classification (PPCTM) from ISO, which are key components to the homeowner’s platform. Vertafore has also added the capability to do an automatic, integrated flood quote at the same time as homeowners by partnering with AON National Flood Services (NFS), the leading provider of WYO flood processing for many of the nation’s carriers.
“The Florida homeowners market has become very competitive,” Acker continued. “It’s extremely important that agents have access to the private market in an easy to use, integrated platform, and our solutions do that.”
A sampling of the recent Florida homeowner carriers that have signed up and will be available by Q3 on the PL Rating platform include: Tower Hill Insurance Group, Sawgrass Mutual, Cypress, Modern USA/American Traditions and Stillwater Insurance Group among others. Based on current market feedback, Vertafore expects to have the majority of carriers writing homeowners in the state available by the end of the year. For carriers not currently on the platform that are interested in this capability, please contact Wendy Haney at whaney@vertafore.com.
About Vertafore
Vertafore’s comprehensive insurance management software solutions lead brokers and carriers to adapt to an evolving insurance industry to efficiently scale their businesses through deeper access to information and insights. The Vertafore product line is built on a platform, empowering customers and other solution providers to adapt and thrive as the market changes. Vertafore’s platform features fast innovation, partnerships with the best technology companies, and customizable solutions to help companies remain independent during a time of industry disruption. As the leader in modern insurance technology with the largest customer base in the industry, Vertafore connects every point of the distribution channel, from agencies and carriers to MGAs, MGUs, and state governments. For more information about Vertafore, visit www.vertafore.com, read the company’s blog, and follow the company on Twitter, Linkedin, and Facebook.
About RiskMatch
RiskMatch is a business intelligence and analytics company that delivers a suite of web-based solutions for insurance brokers and underwriters throughout the U.S. Its patented platform delivers an array of portfolio management, analytic and data management services designed to enable brokers and underwriters to enhance performance, reduce costs, facilitate growth, and improve their client service capabilities. For more information, visit the RiskMatch site.