Appalachian Underwriters Speeds Quotes with Instec Quicksolver Enterprise Rating Engine

As part of its technology modernization strategy, the Oak Ridge, Tenn.-based insurer sought to replace its prior rating engine to achieve reduced time to market and increased self-reliance.

Appalachian Underwriters has successfully deployed Instec’s Quicksolver Enterprise policy rating platform for the Oak Ridge, Tenn.-based provider of commercial, personal and specialty products’ workers compensation line of business. Quicksolver has been delivered internally at the carrier and through its Appalachian Underwriters web portal, which handles thousands of submissions daily, across multiple rating companies.

As part of its technology modernization strategy, Applachian Underwriters sought a new rating system that would decrease time to market and deliver a new level of self-reliance that had been impossible with Appalachian Underwriters’ legacy system, according to an Instec statement. Appalachian Underwriters also required functionality that would mitigate compliance risks and streamline operational tasks.

“The system performance we’ve experienced with Instec’s Quicksolver Enterprise is unrivaled, delivering sub-second rating per quote, which dramatically increases our operational efficiency,” comments Steve Cota, CIO, Appalachian Underwriters. “Additionally, the robust integration through web services, statutory reporting and precise rating made Instec the perfect choice to upgrade our service oriented architecture and enhance our processing environment.”

Appalachian’s selection and deployment of Instec’s Quicksolver Enterprise reflects a trend of insurers seeking offerings that meet pressing time-to-market demands and support the drive for new revenue, according to Karen Furtado, partner, SMA. “Instec has the ability to provide both bureau content as well as configuration tools that enable self-sufficiency,” she says. “Both avenues are assisting insurers and helping them to deliver programs in a timely and efficient manner.”

Bill Budde, Instec’s VP of sales characterized the implementation as the latest example of the vendor’s “no fail” mantra about client success. “As a 30-year-old company, not only are we experts at delivering bureau content and self-sufficiency, we also offer a solid track record of successfully and consistently implementing platforms that decrease total cost of ownership, increase revenue and mitigate risk for our clients.”

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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