Tower Group Selects AgencyPort for Web Services

AgencyPort, a leading provider of agency “extranet solutions,” announced that the Tower Group Companies had selected its services to automate the rating, quoting, binding, and policy issuance of Tower products for new business, renewals and endorsements.

The technology company’s bulletin described its “AgencyPort’s KeyOnce(TM) software” as offering “insurance companies, MGA’s and wholesale brokers a suite of privately labeled web-based applications that automate transactions and communication with their distribution partners.” It is designed to lower the cost associated with distribution, and approaches the problem “from a retail insurance agent’s perspective.”

“In addition to licensing AgencyPort’s existing Business Owners Policy, Workers Compensation and Commercial Auto applications, the Tower Group Companies will partner with AgencyPort to develop new applications and enhance existing functionality within AgencyPort’s KeyOnce(TM) software,” the announcement continued.

Michael Lee, President and CEO of Tower Group indicated that the new capabilities were a part of his company’s focus “on enhancing the strong relationship we have maintained with our valuable distribution partners,” and noted that it followed a “commitment to finding ways to use tools like the Internet to create new efficiencies and fuel growth, for both ourselves and our partners.”

“Tower selected AgencyPort after the completion of an extensive due diligence process on the KeyOnce(TM) software product and other vendor solutions. In addition, we were impressed with the track record of the technology team and the company’s domain expertise from within traditional insurance distribution,” Lee continued.