American International Technology Enterprises, Inc. a member company of American International Group, doing business as AIG Technologies, or AIGT, announced the launch of MassXpress(TM).
It described the new technology as “a Web-based product designed to streamline the insurance application process for carriers writing personal automobile coverage in Massachusetts.” The goal is to help insurers improve processing times and reporting procedures by integrating key insurance reporting organizations in the state.
These organizations include the Merit Rating Board (MRB), Automobile Insurers Bureau (AIB), Commonwealth Auto Reinsurers (CAR), and the Massachusetts Registry of Motor Vehicles (RMV).
“Submitting automobile coverage applications can be a complex procedure, with state-specific rules and regulations creating efficiency challenges for insurers,” stated Paul Madarasz, AIGT President. “MassXpress was created by AIGT to help alleviate these issues; the technology serves as a cost-effective tool that enables existing and new automobile insurance carriers in the state to work more effectively.”
The system is designed to provide “quick access to both driver and vehicle information via a connection with the RMV and the state’s Uninsured Motorist System (UMS),” said the bulletin. “Through these connections, a majority of the data fields required to issue a policy are populated with minimal data entry. Other features include provisional re-rate, expert underwriting, and UMS inquiry and update.”
AIGT’s announcement noted that “Quincy Mutual Fire Insurance Company recently implemented MassXpress at its headquarters in Quincy, MA to reduce operating expenses and improve workflow efficiencies.” Mark A. Giuliani, the company’s VP for IT commented: “MassXpress has streamlined Quincy Mutual’s workflow for its internal staff and agents. We have been able to improve and simplify many of our processes while realizing a significant reduction in cost.”
Was this article valuable?
Here are more articles you may enjoy.