Solution supports rating, quoting, underwriting and issuance for all lines on a nationwide basis
Hartford, CT, – Insurity, a LexisNexis company, and a leading provider of software and services to the property-casualty insurance industry for more than 25 years, today announced that COUNTRY Financial and its affiliate, The MiddleOak, have implemented Policy Decisions for Commercial Lines, Insurity’s proven web-based policy administration solution. The Bloomington Ill.-based carrier went live with 10 general and specialty commercial lines in 40 states simultaneously.
COUNTRY consolidated an array of products from several companies into a solution that supports multiple business units on one platform. COUNTRY Financial operates a captive financial representative business model in the Midwest and West. The MiddleOak family of companies is represented by independent agents throughout the country.
"Policy Decisions for Commercial Lines supports both our captive and independent channels on one platform," said Anne Tarryk, SVP, Distribution Technology for MiddleOak. "In addition, the platform provides automatic updates for rates, rules and forms from ISO and other insurance bureaus in each state offering our companies the potential for a reduction in the time that our staff spends on maintenance work."
"The financial representative and independent agent experience is a critical success factor," Tarryk added. "We are working toward building screens that are friendly, offering quick quotes and application data capture. We anticipate that over time our financial representatives and independent agents will quote more commercial business for us than ever before."
"This was a major project that consolidated insurance product offerings across several companies and business units," said Bob Larew, senior vice president at Insurity. "COUNTRY and MiddleOak worked as a team to develop a customized solution that will deliver value to the financial representative and independent agent channels that COUNTRY and MiddleOak support."
Another key feature that COUNTRY Financial is implementing is Virtual Policy, which enables users to view policy forms and declaration pages online. "Virtual Policy is an important feature of the system for us that allows policy information to be readily available across our organization," said COUNTRY Director of Commercial/Agribusiness Sheri Bane. "Automated forms processing is another key benefit for COUNTRY," she added.
Policy Decisions for Commercial Lines replaced a client/server system and a proprietary mainframe system. COUNTRY also utilizes Reporting Decisions, Insurity’s data warehouse, management reporting and business intelligence solution.
About COUNTRY
COUNTRY Financial serves about one million households and businesses throughout the United States. It offers a full range of financial products and services from auto, home and life insurance to retirement planning services, investment management and annuities. The MiddleOak insurance group provides auto, home, business, watercraft and specialty insurance through Middlesex Mutual Assurance Company of Middletown, Conn., and Holyoke Mutual Insurance Company of Salem, Mass.
About LexisNexis and Insurity
LexisNexis® (www.lexisnexis.com) is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), LexisNexis serves customers in more than 100 countries with 18,000 employees worldwide.
Founded in 1983, Insurity has served the property and casualty insurance industry for over 25 years. Insurity delivers complete end-to-end insurance processing solutions to insurers including systems for commercial, personal, and specialty lines policy administration, claims administration, billing, reinsurance, business intelligence and advanced analytics, and data warehousing. Insurity’s solutions address the needs of all carriers – large and small, national or regional, commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit www.insurity.com.
Media Contact
Beth Bartlick
LexisNexis Risk & Information Analytics Group
860-616-2604
Beth.Bartlick@LexisNexis.com
