nuServe, a San Francisco-based provider of technology-related risk management tools, announced the expansion of a new service called nsBusiness Network. The expanded nuServe software aims to provide managing general agencies, wholesalers and their agency customers with an organized approach to indicating, rating, and binding business as well as processing claims and endorsements.
According to nuServe, nsBusiness Network will provide a centralized place for underwriters and wholesalers, MGAs and carriers to sort through leads and business submissions based upon the type of risks that have the most priority. Program business managers are able to track new and renewal submissions and sort, for example, by employee count and revenue size.
Several carriers, MGAs, agents and brokers have already adopted nuServe’s Web-based applications, which will also be integrated with several agency management systems in the near future. Agents, brokers, wholesalers and MGAs have faster quote processing, better underwriting efficiency, improved customer service, and higher quality submissions, according to Kai Tamara Hare, nuServe’s CEO.
The tools are designed to integrate with existing agency and MGA workflow. “Today’s successful MGAs must respond quickly with customer service to a client’s specific needs,” Hare said. “These tools improve service by providing faster quote turnaround. Agent customers can quote and bind within minutes, because the MGA is getting completed applications with its specific underwriting parameters.”
Hare added that MGAs also can use their nuServe system “to understand minute by minute, from anywhere, what is being underwritten, processed, and quoted; by who and when; which agent or agency is submitting what, where and for whom; and even who in the office is sitting on what accounts.”
Applications can be proprietary or in any ACORD application. Moreover, all data entered is created once and can be used over again in multiple applications, improving quality and speed. “Many insurance applications have as much as 80 percent redundancy in answers across different lines of business,” Hare noted.
nuServe technology is open source – meaning MGAs can interface their nuServe system with other technology that an MGA has, or will license in the future. Since the technology is Web-based, no hardware or software maintenance is required.
For more information call (415) 242-7918, ext. 108.