TowerStreet Goes Live in New York, New Jersey, Connecticut

July 27, 2001

TowerStreet, a leading provider of insurance software and services, announced that its Internet exchange has gone “live” in New York, New Jersey, and Connecticut. SmartWorks™, TowerStreet’s new hosted, point-of-sale (POS) service, integrates multi-company rating with underwriting information and data validation. TowerStreet will continue the nationwide rollout of SmartWorks during the next 12 months.

According to TowerStreet, initially, SmartWorks supports personal lines insurance, including homeowners and personal auto. Agents can instantly obtain and verify all the information they need for an applicant because underwriting data such as MVRs, credit information, and claims histories are integrated into the system. Agents also can quote policy rates from one of the largest rate-plan inventories in the industry.

The company further maintains that for consumers, SmartWorks means better service and pricing, since automated data collection enables agents to quickly take application information and offer rates from multiple carriers during a single phone call.

TowerStreet hosts SmartWorks in its state-of-the-art data center, updating rate plans, upgrading technology, maintaining data, and enhancing software applications. Agents can work from anywhere and no longer have to worry about updating equipment or software, or backing up data. For a monthly subscription fee, SmartWorks helps agents save time, reduce costs, and improve customer service and satisfaction. For carriers, SmartWorks operates as an exchange, providing a way to distribute products to a much broader range of agents. SmartWorks also improves the policy submission process between agents and carriers by eliminating duplicate entries, verifying data, and eliminating errors that can cause delays and increase operating costs.

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