Frisco, Texas — Skywire Software, a global provider of software and services for the insurance industry, has further expanded its portfolio of software components to support insurance underwriting and rating with the launch of Ingage, a Web-based software application designed to streamline data capture by allowing insurers to create and configure questions and rules through an intelligent front-end data capture presence.
The launch of Ingage follows an April release of Rating Xpress, a preloaded content solution that includes loss costs and rating rules. Both Ingage and Rating Xpress integrate with Skywire Software’s Insbridge rules, rating and underwriting system enabling insurers to reduce time associated with maintaining rates, speed time-to market, and improve rating accuracy, quality and compliance.
Built specifically for the insurance industry to support all lines of business, Ingage provides an online data capture front-end for the complex decision-making involved in insurance applications. An intelligent, Web-based interface is designed to enable producers, CSRs, underwriters or applicants to gather information. Ingage automatically accepts or knocks out the application based on responses to questions. This eases the burden of data entry across all parties involved in the process.
Ingage tracks insurance applications for accuracy and completeness. The software application provides straight-through processing for common risk types, eliminates redundant entry for agents and underwriters, and integrates seamlessly with Skywire
Software’s Insbridge rating engine for quotes.
While Ingage can be used in personal and commercial line environment, it excels in the complexity required for commercial lines, according to Skywire product manager Jason McDonald.
“Compared to the progress in personal lines, straight-through processing for commercial lines has been slower to take hold because of the number of variables involved,” he says. “Ingage addresses the increased complexity involved in commercial lines, allowing the concept of smart underwriting to move up the value chain.”
Ingage is ACORD XML-based for easy integration with multiple systems commonly found in insurance environments, including agency management systems, policy administration, third-party information providers, rating engines such as Insbridge and customer communications management systems such as Skywire Software’s Documaker.
“Skywire Software is committed to continuous innovation and bringing to market software components that are based on industry standards and focused on business user empowerment,” says Wendy Gibson, chief marketing officer at Skywire Software. “Our products are designed as components to enable interoperability with other systems through Web services and service-oriented architecture, enabling insurers to automate complex, manual tasks and extend the value of their current technology investments.”
Skywire made its new product announcement at the ACORD/LOMA annual conference in Las Vegas, where it also was honored with the Insurance Networking News’ Vanguards in Insurance Practices “Company to Watch” award.
“As pricing and business complexity rises, the software used to manage pricing and underwriting logic increases in importance, particularly in a soft market,” says Craig Weber, SVP of Boston-based Celent’s insurance practice. “Implementing components that enable the data capture to streamline and automate the new business underwriting process, and also provide the ability to manage the risk/price equation, easily and accurately provides a clear competitive advantage.”
Source: Skywire Software
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