Peel Mutual successfully launches a modern connected Portal
April 8, 2009 Toronto – iter8 Inc., an insurance solutions software developer, is pleased to announce Peel Mutual Insurance Company (Peel Mutual) has rolled out the first Phase in their new portal.
Peel Mutual made a strategic decision to embark on a multi-year investment in their independent broker channel, so that they can achieve superior “ease-of-doing-business” in their product lines, including personal lines auto and property, and commercial lines. The first phase has just been completed and rolled out, with Phase II ready to commence.
Phase I will enable independent brokers to generate on-line quoting and submit new business for Personal Automobile lines. Brokers should expect faster processing times, while straight-through-processing enables the Peel Mutual underwriting team to focus on exceptions generated and to work closely with their brokers. Access to the portal is made easy via direct login; with access through third party rating engines, such as Compu-Quote or directly from Broker Management Systems, including TAM from Applied Systems available shortly. This phase will greatly improve the new business process in place at Peel, and provide brokers with the capability to improve their customer service levels. Access to third party report data is now automated and will greatly enhance underwriting performance.
The next phase of the portal, slated for 2009 completion is to extend quoting and new business for personal lines property. This is to be followed by Phase III with on-line, real-time Policy Change.
This initiative will deliver significant value to both Peel Mutual and its broker channel. Brian Bessey, GM at Peel Mutual, commented “to become the company of choice for our brokers, our goal is once-and-done transactions including a round trip from Broker Management Systems. We broke the work into clearly defined phases so that we could properly allocate resources, while delivering a series of “wins” for our brokers.”
The portal will also provide access for the underwriting team at Peel. They may use the portal as their underwriting desktop, providing a modern, web enabled user interface that provides the same information as that provided to brokers.
Glen Piller, President of iter8 commented, “Peel Mutual have invested in their distribution channel so that they can successfully compete and grow for many years. In just a short time they have provided brokers with an ease of doing business, including real-time rating, underwriting, underwriter workflow and desktop and full systems connectivity.”
As a smaller, mutual insurance company that had traditionally relied upon personal service, and “word-of-mouth”, Peel Mutual has begun the process to introduce new, modern technology into their processes, while still maintaining the personal touch that has been their hallmark.
About Peel Mutual Insurance Company
With its head office in Brampton, Ontario, Peel Mutual has been serving customers since 1876. The company offers a complete line of quality home, auto, farm and commercial insurance products at competitive prices through knowledgeable, service-oriented staff. As one of the oldest mutual insurance companies in Canada, Peel Mutual is owned by its policyholders.
iter8 Inc. is a software solutions provider to the Property and Casualty Insurance Industry, its products designed to increase profitability by solving problems – centered on Agent Portals, Agent Connectivity and Underwriting Operating Excellence – through smart innovation and proven expertise in both the insurance business and in technology, implementation, and service.
A dynamic, creative company, iter8 has a track record of successfully streamlining insurance processes, improving time-to-market, and saving companies money. For more information, please visit www.iter8.com.