American Access Casualty Co. (AACC) has gone live with the BindExpress Product Configurator, Rating and Underwriting modules in the state of Texas. BindExpress is a product of SpeedBuilder Systems Inc., a company offering large enterprise-class applications for small- to medium-sized P&C carriers.
The development included integration with the company’s in-house system, real-time rating via QQ Solutions Webrater and ITC TurboRater, and a rate-as-you-go agent portal. The application allows AACC to develop, test and deploy rates and rules to all distribution channels, regardless of hardware or software platform.
BindExpress offers speed-to-market, a single platform for internal systems, an agent website, and third party raters, said AACC. Maintaining one central engine allows rate accuracy and consistency across all channels, eliminating the time and cost of updating multiple systems, the company added. The two companies also are implementing the BindExpress Bulk Rerate module, allowing the AACC pricing team to do what-if modeling. The total application will offer additional analysis tools, efficiencies and automated testing capabilities.
“BindExpress Rating lets business users in the pricing department own the rate-setting process,” said Matt Reznicek, pricing manager at AACC. “When we spot competitive changes and other triggers in the market, we can react within days. This straight-forward process not only relieves demands on our IT resources, but the quick turnaround impacts our underwriting profit much sooner.”
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