Leading Insurance Services Inc., an underwriting management company and exclusive program administrator for LIG Insurance Co. Ltd., located in Seoul, Korea, in the United States (LIG), has purchased Insuritys Policy Decisions for commercial lines, billing and claims.
In 2005, LIG became aware of the growing opportunity to serve Asian-American businesses, and built an insurance underwriting organization specifically designed to respond to the needs of the Korean-American business community. LIG selected Insurity to quickly launch their business, and now serves Korean-American and Chinese-American businesses.
To service this specific market, LIG built a custom front-end to streamline the submission process. The upgrade to Policy Decisions for Commercial Lines enabled LIG to take their submission front end from a standalone data-capture mechanism to an integrated solution that not only moved data directly to Policy Decisions, but also leveraged a variety of its Web services to create more robust capabilities for their end-users. LIG was able to handle the integration with Policy Decisions for Commercial Lines with ease, leveraging out-of-the box Web services.
To compete in the small commercial lines market, we needed the easiest, simplest way to transact business, says John Przedpelski, EVP and COO of Leading Insurance Services Inc. Now we have it. We have total flexibility to get real-time information ourselves instead of relying on a vendor. Under the old system, providing broker access would have been impossible. Now, the site seamlessly transmits XML data to the LIG system, and brokers get quotes and underwriting indications back quickly.
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