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| Web portal provides cost-effective, complete point-of-sale system for property and casualty and auto insurer.
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Business Challenge
A group of experienced insurance entrepreneurs developed a web-only distribution model for selling property and casualty and auto insurance to independent agents on behalf of multiple insurance companies. With the right website, they would be able to dramatically reduce the cost of doing business and earn good profits with minimal margins.
Based on IBS' previous experience in building successful self-service web interfaces to insurance processing systems, the company chose IBS to build a fully functional point-of-sale system for their agents.
IBS Services
IBS created the secure, web-based agent portal by developing a customized interface to the client's Diamond System policy administration system, as well as an interface to a comparative rater system. The portal provides the following functions:
- Policy rating, quoting, binding and issuance
- Banking account sweeppayments and credit card payments
- A web interface to a third-party comparative rater through a bridge application
- Policy inquiry
- Issuance of endorsements and re-rates
Client Benefits
All of the processing required to obtain rates, issue policies, make inquiries, compare competitive rates, make applications and issue endorsements is now done in real-time by the agency's independent agents through the web portal.
The system effectively eliminates the need to call for information or wait for an administrative person to process paperwork, cutting basic business processes to seconds. Further, the bridge to the comparative rater means that agents can select one of the quotes to get a more in-depth quote from the insurer without having to re-key the customer's information.
Speed and ease of use are powerful incentives for the client's independent agents to do business with them.
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Success Stories 
