Insurance rating software

[Michaelloguercio]

Hello everyone, and please allow me to reply to some of the postings on this board. My name is Michael Loguercio, and I am a Regional Sales Manager for Fiserv FSC Rating, and I am based in New York. While reading this string, I observed a number of inaccuracies in some of the issues discussed, and I would be remiss if I did not respond with respect to the Fiserv FSC Rater.

For instance, credit scores (in those states that permit credit scoring by insurance carriers and when applicable) are acquired and applied to quotes issued by the Fiserv FSC Rater, both via "manufactured rates" and "real time" rating platforms alike. Therefore, for those carriers where a manufactured rate is the only means available in obtaining a quote, the credit score is still properly collected and appropriately reflected in the quote remitted to the agent.

In regards to pricing, there are determining factors that affect the fee that Fiserv FSC charges for our rating services. Our business model and corporate culture is to provide a truly accurate product that assists our clients in becoming more effective and efficient through the use of our programs, so therefore we price our products at a fair level that remains extremely competitive.

With respect to other issues mentioned such as carrier inventory; integration with agency management systems; uploading to carriers; ability to quote real time and manufactured carriers alike; application of carrier underwriting guidelines automatically "behind the scenes"; and of course accuracy, Fiserv FSC has a three decade history of very successfully providing these and many other benefits to our thousands of agency and carrier clients nationwide.

If you have any questions or would like to discuss this further, please contact me at michael.loguercio@fiserv.com or 631-345-9359. Thank you!

[Joe Ossulton]

Hi All,

I am new here and wanted to present IDIT technologies, which developed an insurance company software that has all the needed features including a all the elements for the process of rating. Maybe this could be relevant for you?
A proper disclosure - I work with IDIT. Hope this did help...

[hhana]

Any updates on Rating Systems? We use FSC right now and it's okay but I have a feeling it could be better. We also use AMS 360 and are building a new website that I'd like to be able to pull info from when people apply for quotes online.

[Socalagent77]

Quomation is a "Real time Rater" We dumped FSC and Hawksoft and now use Quomation. Rater and management system work well togethor. We have been able to get every one of our preffered agency appoinments on board with quomation. We saved money and we can have up to ten users for the price. Remmember it is REAL TIME not like FSC the rate you get could be dated. This can cost you business to an Agent that has Quomation. BMW vs the 1974 Impala. Take a free test drive.

http://www.quomation.com/ ask for Luke. He is awsome at explaining the product.

[InsureMeNow]

We tried Quomation for a little while but didn't consider it an upgrade over FSC at all. They use both real time rates and manually program rates for carriers that don't have real time. The real time rates were slow and the programmed rates were inaccurate. They also didn't have alot of the carriers we needed.

We switched back to FSC and haven't looked back. I think Quomation needs some time to work out the bugs.

[mica.cooper]

The real problem is not the vendors. It is the insurance companies. Agents need more competition. The current vendors are fat and content with splitting the market. This has happened because insurance companies have restricted who they work with. With an open policy towards vendors, agents would see more choices.

If you want to help, bug your companies to open up. I know companies say they are open to working with vendors, but they are NOT!

[timberho]

obviously this is an older post and lots has changed since 2008, mainly in carrier inventorys for the leading systems. PL Rating and EZLynx are without a doubt the two leaders in the market today. I have used both at my agency, and PL Rating by Silverplume has some pretty obvious advantages. For starters, they seem to give my employee more accurate quotes than EZ did and they don't have to go into individual carrier sites like they used to to complete the app. Also, the integration with our Applied system is much more streamlined (we can bring the quote back and forth with a few clicks), and my favorite-PL Rating pulls vehicle and driver info through ChoicePoints (VINS SSN's-partial, DL #;s, DOB's, etc. . . )Last time i checked EZ was doing something similar but i believe just for Vehicle info and no driver. When we had EZ they weren't doing this at all which was one of the main reasons for the switch.

Bottom line is this-to say that either only has travelers hartford safeco, whatever, is a blanket statement that might be completely false as inventories vary drasitically from state to state. and both are aggressively bringing more on nearly every week it seems like.For example, in Ohio i would estimate that PL Rating has 35-40 carriers while in KS they have closer to 10. This company is definitely worth checking out, they presented us with a product that i feel is better than ezlynx and we liked ezlynx. Anyone shopping raters should absolutely call both vendors.

[wariline]

Our agency has been using FSC for years, and recently tried out EZlynx. As others said previously, EZlynx is cheaper, and the rate is real time, but I find it slow as it has to log onto multiple carriers, and retrieve data and rate on the respective carriers' server (at least that's my understanding). FSC on the other hand, gives you a rate instantly. And again, sometimes you are stuck if your internet is down. Also, there're still quite a few carriers not supported by EZlynx yet. Personally, I think FSC is better if your volumn of business justifies its cost.

[jack1978]

So in California, how much would we be looking to pay for EZlink--for lets say 4-5 carriers?

[mccloud55]

QUOMATION COMPARATIVE RATER - A CALIFORNIA BROKER'S REVIEW

PRICE: $199 SET-UP +$125 / MONTHLY FOR A TOTAL OF $324.00 START UP FEES.

SUMMARY: When the Quomation software product failed to access (Bridge) to some of my most competitive carrier's applications, I lost customers and was bound by Quomations 90 Cancellation Policy and a denial of refund.

PRODUCT PERFORMANCE: Several companies that Quomation listed on their software program, did not bridge to the applications. This basically made the product useless for me because I had to go directly to the carriers website and duplicate my efforts by having to enter all the same client data again and then print the app. With one carrier, I had to have them fax me the application and do a mail in after I found out the Quomation bridge was not compatible--even though the carrier was listed as being compatible! Quomation tech support could not fix it and referred me back to the carrier who told me that they had advised Quomation of the incompatibility due to incomplete programming, yet Quomation did not remove them from their compatibility list!

CUSTOMER SERVICE: After detailing my complaint and taking a couple of screen shots of the carrier list and asking for a full refund, I received NO REPLY. After another email to them I was told this; You are obligated to give 90 days notice to cancel and our policy is to not give refunds for the set-up.

OPINION: TWO OF MY DM'S HAD TOLD ME TO GO WITH THE FSC COMPARATIVE RATER AND I SHOULD HAVE LISTENED! MY BOTTOM LINE FOR ANY NEW AGENT OR BROKER CONSIDERING QUOMATION: "PAY A LITTLE EXTRA PER MONTH AND AVOID ALOT OF HEADACHES. MANY CARRIERS THAT I HAVE WANTED TO GET APPOINTMENTS WITH TO BE COMPETITIVE IN MY MARKET HAVE TOLD ME THAT I CAN ONLY WRITE BUSINESS WITH THEM THROUGH FSC RATER.

I sincerely hope my personal experience and this review lends some insight into Quomation, their software, and the company. Good Luck and have fun in the business!

[realtimejunkie]

FSC has traditionally been the market leader in CA, but they have struggled everywhere else. Recently they were offering to give their rater away for free in Missouri. I welcome when I can get my rater for free in CA. We welcome competition in CA! So EZ Lynx and Quomation keep it up! obviously you're stirring the pot and that is why these forums essentially turn into an infomercial for FSC.

[mica.cooper]

If you really want choice, be sure to let your carrier representatives know that. The problem is that carriers are very selective about letting new vendors play in the realtime sandbox. As long as agents continue to do as they are doing now, they will continue to have few choices. The current rating systems are MORE than happy to continue this cycle.

[dev1nsan]

I agree with the last two post, we need more choices in California, it seems FSC knows they have a grip on the California market so they can charge a premium. We need more competition, it seems like Quomation is headed in the right direction but it's not quite there yet. I think we especially need a company that can work with the non-standard market, one that will generate a quote quickly.

[salutq]

The ones i know about are as follows

1. http://www.softscout.com/software/Insur ... ating.html
2. http://www.inscomp.com/
3. http://www.quadinfo.com/

Anyways take a good hard look at the options people tell you about since once you've decided then you have decided. Take your time and evaluate the pros and cons

[mccloud55]

Any updates on Rating Systems? We use FSC right now and it's okay but I have a feeling it could be better. We also use AMS 360 and are building a new website that I'd like to be able to pull info from when people apply for quotes online.

QUOMATION COMPARATIVE RATER - A CALIFORNIA BROKER'S REVIEW

PRICE: $199 SET-UP +$125 / MONTHLY FOR A TOTAL OF $324.00 START UP FEES.

SUMMARY: When the Quomation software product failed to access (Bridge) to some of my most competitive carrier's applications, I lost customers and was bound by Quomations 90 Cancellation Policy and a denial of refund.

PRODUCT PERFORMANCE: Several companies that Quomation listed on their software program, did not bridge to the applications. This basically made the product useless for me because I had to go directly to the carriers website and duplicate my efforts by having to enter all the same client data again and then print the app. With one carrier, I had to have them fax me the application and do a mail in after I found out the Quomation bridge was not compatible--even though the carrier was listed as being compatible! Quomation tech support could not fix it and referred me back to the carrier who told me that they had advised Quomation of the incompatibility due to incomplete programming, yet Quomation did not remove them from their compatibility list!

CUSTOMER SERVICE: After detailing my complaint and taking a couple of screen shots of the carrier list and asking for a full refund, I received NO REPLY. After another email to them I was told this; You are obligated to give 90 days notice to cancel and our policy is to not give refunds for the set-up.

OPINION: TWO OF MY DM'S HAD TOLD ME TO GO WITH THE FSC COMPARATIVE RATER AND I SHOULD HAVE LISTENED! MY BOTTOM LINE FOR ANY NEW AGENT OR BROKER CONSIDERING QUOMATION: "PAY A LITTLE EXTRA PER MONTH AND AVOID ALOT OF HEADACHES. MANY CARRIERS THAT I HAVE WANTED TO GET APPOINTMENTS WITH TO BE COMPETITIVE IN MY MARKET HAVE TOLD ME THAT I CAN ONLY WRITE BUSINESS WITH THEM THROUGH FSC RATER.

I sincerely hope my personal experience and this review lends some insight into Quomation, their software, and the company. Good Luck and have fun in the business!