Union Mutual of Vermont Co.s (UMVT) is almost ready to go live with its latest IT purchase as Phase I implementation closes of ISCS's flagship product, SurePower Innovation. The mutual insurer is hoping the web-based platform wil deliver service to its policyholders and ease of doing business to independent agents.
ISCS says this Phase I implementation brings UMVT live with four major lines of business—homeowners, personal auto, personal umbrella and business owners—in six New England states, which represents more than 95 percent of the company's policies. For UMVT, the implementation also will also result in an increased ability to make more accurate pricing decisions, which, ultimately, support improved loss ratios and decreased time-to-market for pricing changes.
Through SurePower Innovation, UMVT will gain greater document management capabilities, improve agent and customer satisfaction, and refine the agent licensing process to assure compliance faster and reduce fine exposure, says ISCS. UMVT expects Phase II of the implementation to be completed in 2013.
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