Naperville, IL, February 11, 2011 -- Instec, a leading provider of rating and policy administration software for the commercial property and casualty insurance industry, launched the third and newest release of its flagship policy administration software, quicksolver 3. This release of quicksolver is the first of its kind in the market to use Rich Internet Application (RIA) technology to deliver all the benefits of a web-based system, without the constraints of operating within a browser.
Forrester Research published "The Business Case for Rich Internet Applications," a report based on interviews with Forrester Research clients and customers, as well as RIA technology providers and designers. The report noted that "well-designed RIAs can produce eye-popping results that can help prove the value of current investments and make the case for future RIA projects." Building on that report, the Gartner Group published “MarketScope for Ajax Technologies and Rich Internet Applications,” noting that the market is within the early majority phase of adoption in 2011, and enterprises will be making strategic commitments to RIA technology.
“Instec’s quicksolver 3 is miles ahead of the competition in using Rich Internet,” says Colin Cole, Chief Insurance Technology Strategist for Microsoft. “The quicksolver 3 software leverages this technology to better deliver a responsive, immersive user interface with a personalized user experience that translates into higher productivity.”
“With traditional web-based policy administration software in Commercial insurance, there are so many fields to input, that the user experience during data entry can be quite poor, the response is sluggish,” says Pat Walsh, VP at Instec. “For example,” he continues, “our tests have shown that entering data and rating a typical single-state, commercial policy in a traditional web environment takes about 45 minutes. Performing the identical task in a RIA-based application takes about 15 minutes. You get a notable time savings because there is a more efficient use of screen real estate – fewer screens to page through – and no waiting while the screen refreshes.”
Additional features of the new quicksolver 3 include:
Instec’s quicksolver 3 platform is a Services Oriented Architecture (SOA) that continues to efficiently manage thousands of revisions while preserving the integrity of individual client extensions. It is an object-oriented n-tier architecture that isolates all bureau changes from client-specific changes. Because quicksolver 3 proficiently handles each change independently at a very granular level, software updates are delivered without any interruption to the rest of the system’s operation. Through a sophisticated precedence order paradigm, client-specific deviations and company-filed programs are overlaid on the thousands of annual, date-sensitive, multi-state rate/rule/form/stat bureau updates and individual state exceptions.
Instec is a leading provider of software and services to the commercial property and casualty insurance industry. Founded in 1982, Instec is steadfast and reliable in delivering well-engineered software and has focused attention on services—executing efficiently and effectively. Instec's quicksolver 3 software is a complete P&C insurance rating and policy administration product that supports multi-state, multi-location, bureau and client-specific policy processing for all 50 states and all major commercial lines of business. Instec is also a business partner with ISO, NCCI and all independent bureaus for 20 years, with 3,000+ revisions delivered each year well ahead of the effective date, a library of over 300,000 rates, rules, and stats and over 20,000 forms.