From contract to production in 45 days, INSTEC provides a solution THOMCO can build on for the future
Commercial P&C insurance software provider, INSTEC, announces their agreement with Thompson Insurance Enterprises, Inc. (THOMCO) for the implementation of a 50-state commercial Package and Automobile policy rating and administration solution. The comprehensive, bureau-based solution is in production, with customizations for THOMCO-specific requirements, within 45 days after contract. THOMCO has also licensed INSTEC's Integration Extensions to integrate the INSTEC QuickSolver® policy software with a myriad of other THOMCO systems, including their agency management, document management, carrier, and claims TPA systems. The Integration Extensions also enable the automated import of existing policy data.
According to THOMCO's President, Greg Thompson, "THOMCO chose INSTEC because they offered a bureau based solution on a modern, scalable platform." Thompson continues, "Because of the flexibility of the platform, we will be able to seamlessly integrate INSTEC with our other software and eventually be able to take producer-completed applications and load them directly into the rating engine. THOMCO plans to use INSTEC for four major national insurance programs for Assisted Living, Daycare Centers, Mental Health and Developmentally Disabled Facilities which are all written with A-rated carriers."
Pat Walsh, INSTEC Vice President, added, "THOMCO's implementation of their vision to build a state-of-the art insurance business is proof that they are a true innovator in our industry. We appreciate their confidence in the INSTEC team and our ability to provide solutions that address THOMCO's current business needs, while also providing a solution for them to build on as they grow and look to new markets. We look forward to our continued partnership as we work together to help THOMCO expand their vision."
INSTEC solutions support multi-state bureau and client-specific policy processing for all states and all major Commercial lines of business. INSTEC's state-of-the-art software can be customized to match unique filings, coupled with various optional maintenance services including complete bureau regulatory updates. As a .NET based component, INSTEC's QuickSolver® applications can be easily integrated within an insurance provider's technical environment.
THOMCO, headquartered in metro-Atlanta, was established in 1977 and has been an MGA focused on Program Business since the early 80's. THOMCO specializes in developing package programs that are custom tailored for specific industries and which typically involve admitted paper and standard market coverages. All products are marketed through a national network of qualified Independent Agents. Visit THOMCO's website at www.thomcoins.com for more information.
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.