With TransactNOW, MMG Insurance delivers real-time connectivity to its agency customers

MMG Insurance Company leverages the power of Vertafore's cutting-edge InsurTech to revolutionize their operations and craft tailor-made solutions for their clients.

MMG Insurance logo

Company snapshot

MMG Insurance Company is a regional property and casualty insurance company that carries an A.M. Best A (Excellent) rating. Over its history, MMG has evolved and expanded, entering the State of Vermont in 1981, New Hampshire in 1984, and Pennsylvania in 2006.

A triumph in agent-centric operations: MMG amplifies efficiency with TransactNOW 

It’s not news to anyone who sells anything that “the customer is king,” but giving the king what he wants is another matter altogether. The effort to solve that problem has given rise to a spate of “customer-friendly” technologies and marketing campaigns. But who are your customers? While the obvious answer would be to point to a company’s many insureds, most carriers will tell you that another group of customers is equally as important to the success of the company — the agents who sell the insurance products and services.

MMG Insurance Company of Presque Isle, Maine, has seen the importance of giving its agent customers what they need. They know that a highly competitive insurance marketplace is pushing those agents to do more business more efficiently in less time. MMG decided they needed to help their agent customers accomplish these goals and lay the groundwork for future agency relationships.

We wanted to meet the demands of our agents and the marketplace by providing products that increase productivity and efficiency as well as improve our ease-of-doing-business initiative.
– Stacy L. Shaw
   Vice President of Information Systems, MMG

Vertafore solutions:

Proven Results:

  • Immediate return on investment, with transaction volumes exceeding expectations within the first week and following weeks
  • Continued monthly growth in transaction volumes for agents and insurer
  • Growing user satisfaction among agents
  • Time savings for agents and CSRs on previously manual processes
  • Improved data reliability

The challenge

MMG Insurance Company is a progressive, regional property/casualty insurance company that carries an A.M. Best A (Excellent) rating. Over the years, MMG has evolved to a regional company, entering the State of Vermont in 1981, New Hampshire in 1984, and Pennsylvania in 2006. The company has become a prominent provider of personal lines products by offering a wide range of solutions. Its unique packaging concept, known as “Portfolio,” allows the convenience of multiple policy packaging and one common bill with a variety of payment options. MMG also offers a variety of commercial lines products. According to Shaw, commercial lines represent more than 29% of the company’s premium volume and has seen significant growth in the past several years. So how could MMG’s technology capabilities support the company’s larger business strategy of meeting the demands of its agent customers?

“Our technology decisions completely impact our business model by allowing us to compete effectively and successfully in a national marketplace, providing best-inclass technology solutions, maintaining excellent relationships with business partners, and providing exceptional service to our agents,” said Shaw.

Insurance agents at a table

The strategy

MMG decided to look at existing technology products to see how the solutions might fit with their overall goals and meet the challenges posed to their agents. After a short evaluation process, the company chose to look at several products from Vertafore because “most Vertafore products are mature and have a solid reputation,” said Shaw. The decision-making process included MMG’s Personal Lines Underwriting, Customer Service, Information Systems, Marketing, and Executive Management teams. “It was important to our company to get both a business user and a technical user perspective before making a final decision,” said Shaw.

We needed to make sure the service was something our customers needed and would use. Furthermore, we had to verify if the service would integrate well with our environment. Vertafore offerings line up nicely with our technology strategy.

The decision

The company ultimately purchased and implemented Vertafore’s TransactNOW and PL Rating products — which became critical to their success — as well as Commercial Lines Download and Personal Lines Download. “Several factors played into the decision of choosing these products, of which the most important ones included: customer demand, marketplace pressure, the need to increase efficiencies, and support of our ease-of-doing-business initiative,” said Shaw.

TransactNOW enables real-time connectivity with agents using Vertafore’s AMS360 and Sagitta management systems. TransactNOW allowed MMG to support a multitude of real-time transactions including billing, claims, and policy inquiry; general messaging; edocs; and endorsement bridging and quote bridges for both personal and commercial lines. It also allowed MMG to integrate directly into their new rating system, and provide real-time updates, messages, and important information directly to their agency partners.

Installation

“Implementation of TransactNOW was very easy,” said Shaw. “Vertafore staff was knowledgeable and expectations were clear from the start. Within a few short weeks, we were supporting at least five functions available for use in TransactNOW. We were very pleased with the results.”

“MMG and Vertafore collaborated on a training session in Portland, Maine that further solidified our business alliance and proved to be wildly successful in promoting a positive and effective use of the PL Rating product,” said Shaw.

TransactNow mockup

Benefits

MMG has seen their agents respond immediately and positively to these process upgrades through TransactNOW. “This has been a very successful product providing much efficiency for our agent customers as well as MMG,” said Shaw. He also noted that Vertafore products have allowed MMG to enhance relationships with business partners and increase revenue by making it easier for agencies to do business with the company. Adopting Vertafore products has also reduced data entry costs and helped to minimize turnaround time for MMG to complete transactions. According to Shaw, MMG saw an immediate return on investment for PL Rating and TransactNOW when the transaction volume exceeded expectations in the first and following weeks. “Each month, transaction volume continues to grow,” said Shaw.

MMG is utilizing TransactNOW to boost their connection points with agency partners and ensure their relationship continues to improve. With Vertafore’s products, MMG was able to create a holistic connectivity and efficiency solution for their employees and partners, all while ensuring their lines of business were supported.

Posted October 3, 2023 in Success Stories

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