We’re about to break through 100,000 NexCenter transactions a month and there seems to be no end in sight to our formidable growth.
Tuesday, May 10, 2011 – With the recent addition of Wawanesa for inquiry, new business, and endorsement upload � along with new business functionality for The Dominion, Pembridge and Grenville Mutual � our transaction numbers will see another substantial increase over the coming months.
Currently 700 brokerages across Canada use NexCenter with 40 different insurer systems. As the only provider of endorsement upload to company systems, we have been and will continue to be the innovation leader. Based on the numbers there is no other upload solution that comes close to our functionality or adoption.
NexExchange, our product for insurers, is now represented in over 20 installations across the country. It provides a complete connectivity solution for insurers including modules for system conversions, broker book rollovers, back-end integrations, web services and EDI functionality.
Our streamlined portal alternative module, which won the Insurance-Canada.ca 2011 Best in Class award, takes a different approach from the traditional transactional portal which typically requires 15-20 screens (or more) of enterable pages and extensive navigation by the user.
Our approach is to provide a ‘once and done’ solution, leveraging the information entered into the BMS, and reducing the broker interaction to a single page of enterable data to address company-specific questions. One page versus 20 reduces the average upload time from 3� minutes down to 90 seconds. That’s a measured and substantial efficiency gain with several of the brokerages equating the time savings to 2 person days per month for each company that supports this approach.
For those companies looking to invest in a traditional portal there are a number of options including Sword Insurance’s AgencyPortal™ and iter8’s collabor8. Though traditional portals in the right environment do have merit, the message from brokers is loud and clear that they don’t want to work in them. This leaves our approach as the best and only solution on the market.
We will continue to deliver great innovations over the coming months and years. Areas of growth will include: comparative rating, claims (current support for FNOL), book of business management for brokers, integration to property evaluation, and claims inquiry services to name a few.
Our projected growth will see NexCenter surpass 800 brokerages and 200,000 monthly transactions within a year. More insurers are in the process of announcing NexExchange streamlined portal projects and our focus is clearly set on delivering.
I truly believe that Brovada is the leader in insurance connectivity. I also believe that we’re only as good as our reputation and the solutions we provide. Being at the top makes us an easy target for others to mimic and rally against but we encourage the competition as it forces us to remain nimble and responsive to your changing business needs. At the end of the day we rest our success on the success of our products. As they say� ‘The proof is in the pudding’.
About Brovada
Brovada is a software provider specializing in business process integration, system conversions, legacy system integrations, and broker connectivity. Brovada has extensive knowledge of the standards within the insurance sector and its expertise is often sought by leading insurers to expedite the transition of data between systems. Brovada’s products result in substantial ROI for existing systems by harnessing their existing business logic and by supplementing them with needed functionality in a cost effective manner. Brovada has offices in Toronto, Moncton and Saint John, NB. For more information please visit www.brovada.com.
