INSTEC will provide MAG-Hartford with Commercial Automobile, Commercial Package, data conversion and a data feed to their carrier’s data repository.
INSTEC, a leading provider of rating and policy administration software for the insurance industry and experts in integrated solution delivery, announces the agreement with the Hartford, Connecticut office of The Managing Agency Group (MAG) for implementation of INSTEC’s QuickSolver® Commercial Automobile and Commercial Package rating and policy administration solutions for two separate programs. The implementation will also include a data conversion of existing policy data as well as data feed to their carrier’s data repository.
MAG-Hartford insurance programs cater to the petroleum marketers and dealers industry by providing customers with multi-line Commercial insurance, written in 18 states through two separate programs. One program is established with a large policy count and premium base, while the other is a start-up initiative. Both programs have unique filings with widely varying rating and rules. Despite separate filings, both programs will use the same installation of QuickSolver. A multi-phased approach and aggressive implementation schedule will allow MAG-Hartford to use the base QuickSolver system for processing quotes in the new program until client unique enhancements are completed. In parallel, automated conversion of policy data from MAG-Hartford’s prior policy administration software will allow MAG-Hartford to continue to process and renew core business without tedious re-keying of policy data or business interruption.
Pat Walsh, INSTEC Vice President, said, “MAG is a welcome addition to our growing list of program administrators. The QuickSolver policy administration platform has proven to be agile enough to serve both the carrier and underwriting agents within the program insurance sector. Our confidence is reinforced each time we are selected by industry experts such as MAG-Hartford. We thank them for their valued trust in our company and our products.”
Robin Brennan, Vice President, added “MAG chose INSTEC to be our policy administration platform because they proved adaptable to our business strategy while being responsive to the needs of an organization of our size and speed. We look forward to a long-term partnership.“
The Managing Agency Group (MAG) was founded in 1993 for the purpose of building a Wholesale operation focused on writing specialty insurance program business. Since then, MAG has developed a wide variety of unique insurance programs, and now writes them on a regional or national basis. The Managing Agency Group became an affiliate of Smith, Bell & Thompson, Inc. in 2005, and together now assists over 6,000 independent agencies with their specialty program, employee benefit, and captive insurance needs.
Founded in 1982, INSTEC provides carriers and MGAs with comprehensive “best-of-breed” rating and policy issuance software designed for the dynamic nature of Commercial Lines. As a Microsoft Gold Certified Partner, INSTEC continues to demonstrate their expertise in Microsoft technologies and their commitment to deliver insurance software solutions that meet the high standards expected from software products developed for Microsoft platforms, including .NET.