June 23, 2011 -Toronto – Kerby-Reid announced today that the first implementation of its Snap Insurance Platform has started booking premium at Trisura Guarantee Insurance Company.
The technology platform, which is designed for specialty, niche and program business, is a true quote, underwrite, bind, issue system that can be customized to allow for both fully automated workflows or, those that require broker or underwriter input prior to issuance.
The Trisura implementation is being used to help brokers sell the insurer�s products more efficiently and to meet the expectations of insurance buyers, who increasingly want a web-enabled insurance solution.
“We chose Snap because the platform is an efficient way for us to help our brokers write specialty and program business,” stated Mike George, Co-CEO of Trisura. “We now offer our brokers a tool which can be used to explore new opportunities and add significant value to their relationships with associations and groups. At a time when our industry is under pressure to deliver cost effective solutions, Snap provides us with an affordable way to support our brokers and their customers.”
Snap is designed for rapid deployment, allowing insurers to fully implement products in only a few weeks. The Trisura product portfolio will include surety bonds, professional liability products and a complimentary suite of P&C offerings. With the first products now online and generating premium, there are a significant number of opportunities being brought to the company by its brokers.
Stated George, “We believe there will be no shortage of applications for us to add to the platform. Our brokers are excited, we are excited and the opportunities appear endless.”
The Snap Insurance Platform is designed to evolve with technological advances and consumer preferences. The robust platform includes a flexible rating engine and underwriting component, and creates fully customized policies on the fly, delivering them to the broker or client within minutes.
“Snap changes the rules for insurance distribution. Insurers can add products without worrying about expense ratios and strained IT and underwriting resources,” announced Marc Sargent, President of Kerby-Reid. “They can go to their brokers and offer support for existing programs or explore new opportunities without needing to invest the time and expense usually associated with IT projects. And because Snap is a fully developed and tested platform, insurers and brokers can sidestep the minefield associated with custom solutions.”
Kerby-Reid has a deep understanding of the insurance industry, its team comprising former underwriters, insurance marketers, business analysts and developers. www.kerbyreid.com