Press Releases
EMC Insurance Companies offers business owners real-time rating for Applied Systems users
Innovative transaction for commercial lines business
University Park, Ill. – Aug. 17, 2011 - EMC Insurance Companies recently introduced real-time response rating for commercial lines of business, making the transaction available for agents who use Applied Systems technology to get real-time rate quotes and proposals directly from within their agency management systems.
EMC’s business owners real-time rating is available for Applied Systems agents to rate and quote new and renewal small commercial business. Agents are hailing the transaction as a true time- and money-saver and a seamless extension of the agency management system.
By streamlining the process, EMC delivers a truly innovative approach to real-time response rating. When agents use the transaction, information is sent behind the scenes to EMC from Applied Systems agency management systems TAM®, Epic™ and Vision®, and a rate is returned to the system in seconds.
A quote proposal is also sent back, giving agency staff an easy way to review the rating details. In addition, a link is provided to bridge back to the EMC Web site to complete the application, revise the quote or access any other account function available.
The real-time transaction seamlessly presents the agency with classification information as well as EMC-specific small business coverage and limit option selection, according to Rick Gass, EMC senior vice president of Productivity & Technology.
"This is our first implementation of real-time response rating for a commercial line of business, and it allows Applied Systems agencies to achieve significant reductions in the time it takes to get a quote returned to their systems," Gass says.
"EMC has broken new ground, demonstrating what carriers can do for their agents by developing an elegant real-time rating solution for small business based on ACORD XML standards," says Doug Johnston, Applied Systems vice president of Partner Relations and Product Innovation. "This transaction takes small business commercial lines marketing to a whole new level – and it’s real-time functionality built right into Applied Systems agency products using IVANS® Transformation StationSM and ACORD standards."
Applied Systems, Inc. develops, sells and supports insurance agency and broker management systems and provides services for accounting, customer, policy, claims management, and all related agent and broker functions. More than 130,000 users in 11,000 agencies of every size and complexity level use Applied Systems solutions built around insurance agency software – TAM®, Epic™, Vision® and DORIS™. In addition, Applied Systems is recognized as a pioneer in advancing agent-carrier communication, continuing its longstanding work to promote download and real-time technology. www.appliedsystems.com
EMC Insurance Companies celebrates 100 years in business in 2011. Organized in 1911 to write workers’ compensation protection in Iowa, the company now provides property and casualty products and services throughout the United States and writes reinsurance contracts worldwide. EMC ranks among the top 60 U.S. insurance organizations based on written premium and has assets of approximately $3 billion. EMC has 16 branch and five service offices across the country and more than 2,100 employees. www.emcins.com