NEW ORLEANS--Managing general agencies, wholesalers and their agency customers can take advantage of expanded nuServe software providing an organized approach to indicating, rating, and binding business as well as processing claims and endorsements.
The expanded nuServe service was introduced this week to members of the American Association of Managing General Agents attending the organization's 2004 Insurance Automation & Technology Conference in New Orleans.
The new service, called nsBusiness Network, provides a centralized place for underwriters and wholesalers, MGAs and carriers to sort through leads and business submissions based upon the type of risks that have the most priority. Program business managers can track new and renewal submissions and sort, for example, by employee count and revenue size.
Already adopted by carriers, MGAs, agents and brokers - and integrating soon with several agency management systems - nuServe's web-based applications and tools provide risk management professionals with compliant transactions based on industry standards. Agents, brokers, wholesalers and MGAs have faster quote processing, better underwriting efficiency, improved customer service, and higher quality submissions, according to Kai Tamara Hare, nuServe's CEO.
The tools are designed to integrate with existing agency and MGA workflow. "Today's successful MGAs must respond quickly with customer service to a client's specific needs," Hare said. "These tools improve service by providing faster quote turnaround. Agent customers can quote and bind within minutes, because the MGA is getting completed applications with its specific underwriting parameters."
Hare added that MGAs also can use their nuServe system "to understand minute by minute, from anywhere, what is being underwritten, processed, and quoted; by who and when; which agent or agency is submitting what, where and for whom; and even who in the office is sitting on what accounts."
Applications can be proprietary or in any ACORD application. Moreover, all data entered is created once and can be used over again in multiple applications, improving quality and speed. "Many insurance applications have as much as 80% redundancy in answers across different lines of business," Hare noted.
nuServe technology is open source - meaning MGAs can interface their nuServe system with other technology that an MGA has, or will license in the future, Hare said. Since the technology is web-based, no hardware or software maintenance is required.
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