(Image credit: Chevrolet.)
American Access Casualty Company, a Downers Grove, Ill.-based nonstandard auto insurance carrier, has extended use of SpeedBuilder’s (Columbia, S.C.) BindExpress Product Configurator and Rating modules into three new states—Arizona, Indiana and Nevada. AACC went live on the SpeedBuilder technology for Texas in 2014. The solution enables users to make, test and deliver rating changes with minimal involvement of IT staff, according to the vendor.
“With BindExpress, my department can react quickly and efficiently to the ever-changing non-standard auto market in which we compete,” comments Matt Reznicek, Director, Pricing and Product, American Access. “The quick turnaround ensures that product and pricing improvements can impact our bottom line much sooner. And because the unified platform services all channels—from our in-house legacy system, to multiple, “real-time” third-party raters—we know our pricing is accurate and consistent everywhere.”
“The speed to market and flexibility are the obvious benefits; however, I sleep better knowing that exceptions, premium leakage within rating, and errors have been virtually eliminated by managing our product rules and rating with BindExpress,” Reznicek adds. “There are tangible impacts on financial ratios, but we also believe the new consistency gives us a lift from the service/ease-of-use standpoint in the competitive independent agency market.”
American Access has proven a showcase for the BindExpress Product Configurator, according to Rod Giess, president, SpeedBuilder Systems. “Once we had successfully partnered with their in-house IT department for the first state, their business analysts in the pricing group expanded into three additional states, with very little help from outside their department—a real testament to the delivered solution,” he comments.