Naperville, IL, June 2, 2004: Commercial P&C insurance software provider, INSTEC, today announced that The Republic Group ("Republic"), based in Dallas, has selected INSTECâs QuickSolver to replace its existing policy administration system for all commercial lines. Republic product lines that will be administered with the INSTEC platform include:
- Commercial Property
- Commercial Liability
- Workersâ Compensation
- Commercial Automobile
- Inland Marine
- Commercial Umbrella
The INSTEC solution will also be integrated to Republicâs other in-house systems, including: CSC Series 2, ImageRight, and UBS Billing system, enabling a seamless end-to-end insurance processing environment.
As an extension to the implementation of the INSTEC QuickSolver Policy Administration system, Republic plans to implement INSTECâs Web Client to expose the commercial lines administration functionality to agents via the Internet.
According to Glenn Headley, CIO of Republic, "We evaluated dozens of vendor products as we scoured the market to find the right solution. Because our requirements are so unique, we knew we needed a product that was functionally robust, yet flexible enough to mold to our environment and support our desired business processes, including our plans to reach out to our commercial lines agents through the Internet. We determined that INSTECâs QuickSolver was the solution for us, not just as a âbest fitâ for todayâs requirements, but also as the solution that complements our strategic direction."
Mr. Headley added, "We anticipate that the INSTEC solution will enable us to provide improved service levels as we also manage our anticipated business growth. With our new processes and systems in place, we expect to be able to reduce the number of resources required for policy assembly and also for rating. Improved service, reduced costs, and a platform for growth --- we couldnât have asked for a better value proposition."
Pat Walsh, Vice President of INSTEC, added, "Republic is a proven visionary in the insurance market. While they are looking to streamline their in-house operation and build a technology infrastructure than can stand the test of time, they are also extending their policy administration and automation to the agent community -- fully leveraging the power of the Internet. We are very pleased that they have selected INSTEC and our QuickSolver solution as an enabler for their business vision. The combined Republic/INSTEC team is already well underway in the implementation effort and we are confident that we can meet their aggressive timeframe for production use."
INSTEC solutions support multi-state bureau and client-specific policy processing for all states and all major Commercial lines of business. INSTECâs 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, INSTECâs QuickSolverÂ® applications can be easily integrated within an insurance providerâs technical environment.