Since its release in March, six new customers have embraced Instec’s Quicksolver 4.0, with its expanded self-configuration capabilities and out-of-the-box bureau-based content, evidence of a market shift toward SaaS-delivered systems and customized product offerings.
Naperville, IL – September 24, 2015 – Instec, the leading provider of policy administration systems to the program and specialty markets, today announced that six new customers have adopted Quicksolver 4.0 since its release in March. The new system features an enhanced user experience, more self-configuration features, and integration with the leading analytics solutions. These features allow users to further leverage Quicksolver’s rich set of out-of-the-box bureau content.
The new clients span insurers of all sizes, including two Tier 1 carriers and an MGA. They all selected Quicksolver, over other policy administration systems, for its ability to speed the development and launch of new customized products which these companies are introducing to differentiate themselves in the market.
“This is a record number of new clients for Instec in a five-month period,” said Kevin Mason, Executive Vice President of Solutions for Instec. “In a highly-competitive environment, where insurers need to seize new business opportunities as they emerge, traditional policy administration systems (PAS) simply don’t provide the flexibility and agility to move quickly enough. Too often, today’s major PAS implementation becomes tomorrow’s legacy system. We believe Quicksolver is a game changer, and our customers appear to agree.”
Quicksolver 4.0 has added even greater efficiency and speed to a system that already delivered 90 percent of what customers need, before any configuration. With a streamlined user interface and the ability to self-configure class codes, coverages and programs, some of Instec’s new customers have launched multi-line, multi-state systems, with extensive custom content, in as little as eight weeks from project inception to production.
“Instec is seeing a growing interest in Quicksolver running in the Microsoft Cloud, with subscription-based pricing. Insurers and MGAs are attracted to this model because it enables them to swiftly modernize and introduce new products at a price point much lower than they’ve seen before,” said Mason, “and with our out-of-the-box bureau content and self-configuration tools, we lower the risk by eliminating the need for custom development. Insurers can use the bureau content as their base and then add their own content very quickly.”
“We are very excited to see Instec’s success with its Quicksolver policy administration system running on the Microsoft Cloud,” said Tony Jacob, Managing Director, Worldwide Insurance at Microsoft Corporation. “We’ve engineered our cloud platform, Azure, to meet the security and compliance demands of the insurance industry. With that foundation in place, and the compelling cloud economics, insurance carriers are now looking at systems like Quicksolver to radically change the way they can modernize their cores and achieve new levels of business agility.”
Instec delivers best-of-breed rating and policy administration solutions to P&C commercial insurers, MGAs, MGUs, and the solution providers that serve them. Since 1982, Instec’s solutions have empowered insurers and general agents to get and keep their competitive edge, efficiently create highly specialized insurance products, go to market quickly, and scale with a minimal IT footprint. To learn more, visit www.instec-corp.com.