LexisNexis Risk Solutions has partnered with one of the largest networks of independent agencies and brokers to offer interconnectivity between two technology platforms.
The LexisNexis Insurance Exchange platform and the Assurex Global Passport system will now be able to interconnect, a move that promises greater efficiency for Assurex broker partners during the submission process.
Assurex Global partners collaborate during the sales process through Passport, and can utilize the Insurance Exchange to manage the submission process to place the risk. Integration of the two solutions will allow brokers to move documents and data from Passport to the Insurance Exchange in one step, automating the setup of a client and submission within the Insurance Exchange, according to Lexis Nexis.
“We are impressed by the Insurance Exchange, and its integration with our proprietary Passport system is a natural fit,” said Jim Hackbarth, president and CEO of Assurex Global. Hackbarth says the integration will help its broker partners streamline the submission process.
The LexisNexis Insurance Exchange simplifies the submission of small and mid-sized risks by agents and brokers to multiple markets. Agents and brokers need only enter account information once. The system lets carriers and wholesalers not only respond to submissions but also make producers aware of their current appetite for certain kinds of business.
“The Insurance Exchange significantly streamlines our submission workflows,” said Tod Ashby, senior vice president of information technology, Van Gilder. “Now, we have the opportunity to seamlessly extend that workflow with the use of Passport with no additional work for our users.”
Assurex Global, an international network of independent insurance agents and brokers, has 110 global broker partners and represents more than $28 billion in annual premium volume.
Was this article valuable?
Here are more articles you may enjoy.