Insurance process provider Vantage Agora has released a new loss-analysis web application that gives insurance brokers, program managers and managing general agents the ability to view and analyze consolidated data on claims losses for clients and prospects.
The application is designed to give a big-picture view of a book of business. The tool can be used for brokers for marketing/remarketing and negotiating premiums for clients and prospects.
“Insurance buyers and risk managers want more transparency to better manage their risk and premiums. They struggle to put together a complete look at their claim and premium data,” explained Sudhir Achar, CEO of Vantage Agora, which offers insurance process outsourcing and consulting, technology services, and operations software. “The new loss-analysis app gives brokers and wholesalers an actionable dashboard to serve those needs.”
The SaaS (software as a service) app combines data from various sources such as a management system and/or data from carriers or third-party administrators.
Many systems output loss-run and premium data, but can’t consolidate it to provide combined results. “Combining multi-year and multi-insurer loss runs provides brokers a way to make a powerful presentation,” said Achar.
The Club VA platform also offers a financial and production management “actionable dashboard.” This gives brokers a “forecast to cash” overview of business, from pre-quote to premiums received, according to Achar. “But brokers also need further visibility into client historical data, which is crucial to answering client queries such as: ‘Why is my premium going up when losses have been stable?’ and ‘What are my claim and premium trends?'”
Vantage Agora is headquartered in Beachwood, Ohio.
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