Insurity Inc., a ChoicePoint(R) company, announced it signed a licensing agreement with an affiliate of Arch Capital Group Ltd. Inc., which has gone live with Insurity’s commercial lines policy administration services. The Commercial Intellisys system was delivered in fewer than 90 days from contract signing, and is a complete solution for the processing of Arch’s commercial program business.
Insurity’s Commercial Intellisys platform, when fully implemented, will provide the rating, underwriting, quoting, policy issuance and subsequent transaction management for all commercial lines of business, including workers’ compensation, nationwide. Insurity also is providing back-end services (billing, claims, reinsurance and management reporting functionality) as well as reporting services for Arch by managing the company’s statutory reporting needs, including DMV and a variety of workers’ compensation reporting obligations.
Insurity said its ability to be the single source for all policy processing and administration needs supporting commercial program business, as well as an ability to keep the Arch system in compliance with filing and reporting obligations, were the most important factors in the vendor selection decision. Insurity’s ability to work with the systems of other business partners, and the ability to pull all of their data into a single administration and reporting system was another important factor.