Banknorth Div. to Use InsBridge Personal Lines Rating Platform

Plano, Texas-based InsBridge Inc., a provider of rating and product management solutions for the insurance industry, announced that Banknorth Insurance Group selected the InsBridge RateManager(tm) Suite, the InsBridge AgentRater(tm), the InsBridge ConsumerRater and InsBridge Rate Loading Services to support their personal lines rating activities.

Banknorth Insurance will be offering online auto and home insurance quoting using the InsBridge platform, fully integrated with their agency management software, with scheduled completion in the third quarter of 2003.

With the InsBridge RateManager Suite, Banknorth Insurance is looking to InsBridge to manage their online rating activities: provide user-friendly comparative rating to their banking customers and prospects; provide a consistent, straight-forward rating tool to their agents; and integrate smoothly with their agency management system. In addition, the InsBridge SoftRater(tm) rating engine enables Banknorth Insurance to handle the volumes of rating requests that Banknorth is anticipating, both now and over the next several years.