INSTEC Unveils Native Windows Commercial Package Policy Processing Solution at 2002 ACORD Conference

By | May 24, 2002

Illinois-based INSTEC unveiled the industry’s first complete, native Windows commercial package policy processing solution earlier this week at the 2002 ACORD Conference “Real World Solutions,” in Orlando, Fla.

The QuickSolver Commercial Package Policy (CPP) software is a countrywide rating and policy issuance solution that supports the full policy life cycle for bureau and client-specific programs for Commercial Property, General Liability, Inland Marine and Crime lines of business. The solution offers single state, multi-state and multi-location rating and policy issuance for all 50 states, and the District of Columbia.

INSTEC Vice President Pat Walsh commented that “the architecture and design of QuickSolver Package enables our clients to leverage all the benefits of current technologies and the Internet while offering the flexibility to easily integrate to other software components.”

In an interview with Insurance Journal, Walsh noted that the company has been profitable for 12 consecutive years, and has sights on 20 percent growth in 2002. While the company does a lot of business with carriers and MGA’s on the East Coast, it has seen good results across the country, including working with California-based Great American Custom in installing a general liability line for the company.

“We’re in a good position in that our technology is very clean and there’s no old stuff,” Walsh said. “We’re looking to move into .NET with Microsoft. The reason for that is that our software is a component and a pure commercial lines rate issue. Three or four years ago, we put a great emphasis on developing something called ‘Integration Extension,’ which allows us to talk to other systems. We see .NET as a significant advantage or innovation extension.”

When asked what has made INSTEC successful, Walsh commented that “I think our technology is most advanced, and secondly, 100 percent of our clients are referenceable. We met several prospects at ACORD and they got to spend a lot of time with the software.”

Topics Commercial Lines Business Insurance New Markets Training Development

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