Cloud computing platform is an innovative way for shrewd P&C executivesto lower costs and drive competitive advantage
Naperville, IL (June 1, 2012) – Instec, a leading provider of services and technology to the Commercial Property and Casualty insurance industry, today announced a strategic relationship with Microsoft Corp. for the Windows Azure platform. This alliance is a first for policy administration in major markets, giving carriers and managing general agents (MGAs) a radical new way to manage infrastructure costs and spin up new programs faster.
Microsoft’s Windows Azure is a cloud platform that is open and flexible, allowing companies to develop, implement, and distribute applications using any tool, language, or framework. As a development platform, Windows Azure gives Instec the power to utilize platform as a service for its flagship Quicksolver technology.
Instec’s Quicksolver is a complete P&C insurance rating and policy administration system that supports multi-state, multi-location, bureau and client-specific policy processing for all 50 states and all major commercial lines of business. When set up through Windows Azure, Instec’s software delivers scalability, cost control, and speed of delivery to carriers and MGAs in the commercial market.
“By moving Quicksolver to the cloud by writing it to Windows Azure, Instec is delivering a policy administration solution in a way that can revolutionize how the insurance industry does business,” said Tony Jacob, Managing Director for Worldwide Insurance, Microsoft. “With this delivery model, carriers can be in business supporting policies on day one and with cloud economics and scale. It’s a potential game changer.”
“Our relationship with Microsoft has significant benefits for our clients,” said Ray Simon, President and CEO, Instec. “Providing a cloud platform gives P&C executives an opportunity outperform competitors while lowering the costs and risks in order to achieve more profitable growth.”
“Many companies across the globe are moving to the cloud platform for a variety of smart business reasons, but it is still a relatively ‘new’ concept in insurance and especially for the policy administration market,” said Deb Smallwood, Founder, Strategy Meets Action (SMA). “Instec’s relationship with Microsoft will provide an offering that will position insurers for growth by streamlining operations, improving efficiencies and reducing costs. This new innovative offering is a significant milestone for the insurance industry.”
Instec, founded in 1982, is a leading provider of services and technology to the Commercial Property and Casualty insurance industry. Noted for long-term client relationships, Instec is a partner in providing business expertise and creating profitable growth. Delivering Policy Lifecycle Management, Instec works with clients on successful program business as well streamlining operations from first quote to last endorsement. Instec’s flagship technology, Quicksolver, is a best-of-breed rating and policy administration solution supporting all major lines of business, in all 50 states, and with native bureau rates, rules, forms, and statistical content. As a Microsoft Gold Certified Partner, Instec delivers strategic solutions that enable clients to drive competitive advantages in rating, issuing, and reporting to lower costs and maximize profitability. With more than three decades of experience, Instec is a trusted partner with deep industry knowledge, innovation and insight. To learn more, visit www.instec-corp.com.