(Image source: SteadPoint Insurance Group website.)
SteadPoint Insurance Group (Birmingham, Ala.), a regional workers’ compensation carrier and MGA, has leveraged Insurity’s (Hartford) Workers’ Comp Suite software to expand its business rapidly into all 50 states. Insurity says its configurable software platform is supporting SteadPoint’s plans to grow from a regional to a national workers’ compensation insurer.
SteadPoint’s agency operation underwrites business on only Workers’ Compensation policies. The company quickly grew to nine states across the southeast before its recent national expansion, crediting Insurity’s speed-to-market and configurable self-service tools as key.
Insurity’s end-to-end suite, combined with the Workers’ Comp Suite self-service configuration capabilities, will enable SteadPoint to add policy, billing, and claims administration features for new states in less than 30 days, according to the vendor. Insurity identifies as a core differentiator of its Workers’ Comp Suite that it enables SteadPoint to rapidly configure the software itself, furthering its ability to enter new markets.
“We are thrilled to grow our business nationally and serve more employers, with the help of Insurity’s software,” comments Chaz Bryan, President & CEO, SteadPoint Insurance Group. “Workers’ Comp Suite is easy to use and sets it apart from other SaaS platforms in the industry. Expanding our regional footprint will allow us to better support our carrier partner/s by offering capacity and capabilities in markets we were unable to reach in the past. We can also further diversify the risk in our portfolio, which is important with rates fluctuating significantly from state to state. It’s a win-win all around.”
Three Times Faster than Market Average
“Insurity is excited to see our longtime customer SteadPoint take their business to the next level with Workers’ Comp Suite,” says Sylvester Mathis, Chief Insurance Officer, Insurity. “Insurity’s Workers’ Comp software is the most efficient system in the market for expanding into new states, empowering organizations like SteadPoint to get up and running three times faster than the market average. What used to take months can now be completed in weeks.”