Naperville, IL, June 20, 2005: INSTEC, a leading provider of rating and policy administration software for the insurance industry and experts in integrated solution delivery, announce the immediate availability of Application Service Provider (ASP) hosting services for all INSTEC solutions. This proven offering utilizes a robust hosting technology infrastructure through MFX and a pay as you go pricing model targeted at insurance providers with time to market considerations and who seek a more flexible total cost of ownership model.
The system, which INSTEC is providing in partnership with MFX, is a Web-based, commercial lines processing system created for bureau and client-specific property and casualty insurance providers supporting all major lines of business in 50 states. All products are countrywide, multi-state policy processing software applications that include policy history and a full set of policy cycle transactions: rate, quote, issue, endorse, cancel, reinstate, renew and audit. The ASP model allows customers to concentrate on their core competencies while allowing MFX to provide ASP services including hardware, back-up, disaster recovery, maintenance, 24/7 support, network maintenance, security and other client-specific needs from a world class data center.
Ray Simon, President for INSTEC stated "As a best of breed vendor, our goal is to provide value to our customer through technology and services. ASP services are a logical extension of our solution delivery model. Our partnership with MFX is a continuation of a proven delivery mechanism which we now proudly present to the insurance marketplace."
The combined solution presents insurance companies and MGAs with manageable cost controls not otherwise available in traditional software installs. Most importantly, companies gain access to an industry leading rating and policy administration system available for worldwide distribution using a Web-based platform.
"At MFX we have the expertise and experience in supporting solutions that are widely scalable, secure, and stable regardless of how far reaching." said Charles Fillizola, President of MFX. "In fact, weâve proven ourselves in some of the worldâs most highly regulated industries where weâve met and exceeded insurance industry and governmental standards for securing financial transactions and information."