Self-sufficiency via strong configuration options key to decision to deploy Insurity Policy Decisions and Insurance Enterprise View (IEV)
HARTFORD, CT (October 15, 2013) –Insurity, Inc., a provider of core insurance processing software and services, today announced that FCCI Insurance Group, has selected Insurity’s Policy Decisions policy administration platform and Insurance Enterprise View (IEV), a data solution that consolidates data from policy, claims, billing and reinsurance systems and provides comprehensive enterprise reporting, analytics, and integration capabilities.
The Insurity solutions will enable FCCI to reduce multiple systems, remain regulatory compliant, introduce new products, and more easily enter new states. With its current environment, which spans three policy administration systems, FCCI recognized the need to improve its technology platform to provide the functionality and efficiencies required to support FCCI’s operational excellence, self-sufficiency, and ease-of-doing business goals for partners and customers.
FCCI’s CIO Paul Ayoub commented on the selection of Insurity, saying, “Staying current with ISO, NCCI, and other bureaus is challenging enough, but when we also considered the complexity of maintaining multiple policy administration systems and the limitations of dated technology we knew it was time to make a change. Insurity was very attractive to us – in large part, due to the strong reputation and stability of the Insurity organization. They’ve been around a long time and they’ve earned a lot of trust in both the Insurity products and company.”
Ayoub continued, “Configurability for self-sufficiency was also very important to FCCI. Insurity’s strong configuration components offer us the self-sufficiency we desire. That, plus the ability to eventually consolidate our multiple systems to a single Insurity platform, made the case for us.”
“We are pleased to be able to add a highly respected insurer like FCCI to the Insurity client family. With FCCI’s decision, we continue to enjoy a great deal of market interest in our Policy Decisions platform as insurers continue to look for ways to modernize their operations. Like FCCI, more and more of our customers are also opting for our IEV – recognizing the critical need to consolidate the data as they modernize the technology infrastructure and processes,” said Jeffrey Glazer, president and CEO, Insurity. “It’s this combination of a modern processing environment and a modern data environment that will help insurers like FCCI achieve their goals for operational excellence and self-sufficiency.”
Founded in 1959 and working exclusively through independent agents, FCCI provides commercial property and casualty insurance to more than 17,000 policyholders and commercial and contract surety to more than 8,000 bonded principals. Rated A (Excellent) with a Stable outlook by A.M. Best Company, FCCI is headquartered in Sarasota, Fla. and has regional offices in Florida, Georgia, Indiana, Mississippi and Texas. For more information, call 1-800-226-3224 or visit www.fcci-group.com.
Headquartered in Hartford, CT, Insurity, Inc. provides policy administration, claims, billing, and analytics software to more than 100 insurance companies. A market leader in deploying policy administration software and full service solutions to the property & casualty insurance market, Insurity’s solutions process billions of dollars of premium each month and address the needs of all carriers – large and small, national or regional, commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit www.insurity.com.