Naperville, IL, January 23, 2006: INSTEC, a leading provider of rating and policy administration software for the insurance industry and experts in integrated solution delivery, announce the implementation of INSTECâs QuickSolverÂ® Businessowners (BOP) rating and policy administration solution with Cheshire, Connecticut based Housing Authority Insurance Group.
Housing Authority Insurance Group (HAI Group) selected INSTECâs QuickSolver solution to be the primary policy administration solution for Housing Authority Property Insurance (HAPI), a mutual insurance company. The INSTEC software is in full production at HAI Group. Taking advantage of its versatility, QuickSolver has been seamlessly integrated within the HAI Group technical environment; existing data â such as account and producer information â is imported in real time during the rating process, and QuickSolver policy data is exported to HAI Groupâs data warehouse for data mining.
The INSTEC solution initially includes the Businessowners Policy line of business for 12 states, with at least 45 states available as HAI Group receives filing approvals. The QuickSolver product provides a robust policy administration solution including bureau-compliant rating for all 50 states, full policy issuance capabilities, and full policy lifecycle transaction support. QuickSolver is installed in a remote data center that is managed by MFX, a subsidiary of Fairfax Financial Holdings Limited. HAI Group users access QuickSolver via CITRIX.
"INSTEC delivered a customized solution within the time frame they promised" said David Sagers, Director of MIS for Housing Authority Insurance Group. "The INSTEC product, coupled with the ASP hosting available through MFX, will enable us to pursue our business strategy in a cost-effective manner."
Pat Walsh, INSTEC Vice President, added, "It is a testament to our products and staff when someone chooses the QuickSolver solution. Housing Authority Insurance Group is a wonderful addition to our growing number of satisfied clients and we are gratified to welcome them. As our business relationship continues to mature, we hope to see Housing Authority Insurance Group realize the unmatched total cost of ownership which signifies the INSTEC product in the policy administration marketplace."