Survey on insurance software deal trends highlights INSTEC for second consecutive year
In the latest edition of its Insurance Software Deal Trends report, research and advisory firm Celent, LLC, has named INSTEC as a leading provider in the Partial Policy Administration Systems category, based on the number of deals the company inked in 2005 and 2006. This is the second consecutive annual deal trends report by Celent to list INSTEC as a leader in policy administration software.
INSTEC’s QuickSolver® policy administration software is used by over 50 insurance providers to process Property & Casualty insurance in all 50 states. Built on Microsoft technologies and utilizing industry standards such as ACORD XML and web services, the best-of-breed solution has become a solid choice among leading insurance carriers and MGAs.
“The leading providers named in the report are active in the insurance vertical," says Craig Weber, Celent senior analyst and author of the report. "That gives them excellent insights into the unique needs of insurance carriers." According to another recent Celent report, Policy Administration System 2007: Commercial Lines Vendors, “INSTEC’s traction in the P/C policy administration market is understandable. QuickSolver’s low cost, extremely fast implementations, and commercial lines focus will likely continue to make it a well received system. … Reference customers were strongly positive about both INSTEC and the QuickSolver system.”
Ray Simon, INSTEC President said “The recognition by Celent is a welcome affirmation to the success of INSTEC and our employees. We recognize the privilege and responsibility of serving many different insurance providers and look forward to the continued momentum of our QuickSolver solution.”
Founded in 1982, INSTEC provides carriers and MGAs with comprehensive “best-of-breed” rating and policy administration 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.