Thursday, December 30, 2010

Kingsway America, Inc selects Insuresoft’s Diamond System to process their Non-Standard Auto Insurance business in Illinois and Indiana

December 30, 2010 – University Park, IL – Insuresoft, a leading provider of insurance software, announced today that Elk Grove Village, Illinois based Kingsway America, Inc. has signed an agreement to implement The Diamond System for their policy administration system for their non-standard auto line of business in Illinois and Indiana.

“When we compared all of the policy administration systems available on the market today, The Diamond System stood out as the premiere modern insurance software solution that provided fully integrated policy, billing and claims,” stated Roger Beck, COO at Kingsway America, “Additionally, the Diamond Data Warehouse will also provide Kingsway with a powerful business intelligence (BI) tool that will immediately improve our competitive efforts going forward.”

The Diamond System is a fully automated and integrated policy administration system for both personal and commercial lines insurance carriers. The Diamond System can be implemented as a component based or enterprise solution for policy, billing and claims processing. Built on the Microsoft .NET platform, it has a services-oriented architecture that enables web-based access for agents, consumers and other insurance carrier partners.

“Kingsway was a pleasure to work with during the evaluation and statement of work phases,” states Tom Westhoff, National Sales Manager at Insuresoft, “They know exactly where they want to grow their business and have committed to improving their policy processing automation as the vehicle that will help get them there.”

About The Kingsway America, Inc.:
The Kingsway America, Inc. group of companies focuses on non-standard automobile insurance in the United States of America. Kingsway’s primary businesses are the insuring of automobile risks for drivers who do not meet the criteria for coverage by standard automobile insurers. The common shares of Kingsway Financial Services Inc. are listed on the Toronto Stock Exchange and the New York Stock Exchange under the trading symbol “KFS”.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, with offices in Tuscaloosa, Alabama. Visit www.insuresoft.com.

Contact: Mike Hernandez
Phone: (866) 299-1314 ext. 35035
Fax: (708) 534-0163
mhernandez@insuresoft.com

Monday, August 30, 2010

Industry Speaks - Policy Administration Q&A with Tom Westhoff, National Sales Manager at Insuresoft

As seen in the July/August 2010 issue of Insurance Networking News.

INN:
How is the continuing turbulent economy affecting insurer decisions to keep their PAS, replace parts of it, or implement an entirely new system?

TW:
Insurance companies are being more thorough in their evaluation of software vendors in the current economic climate. Insurance companies are still in the market for upgrading their existing legacy technology systems but are aware that the financial impact of a software implementation can be high if they don’t select the right solution and understand what the implementation process will entail. Insurance carriers have high costs related to maintaining their legacy systems and those same systems can limit their growth. With that in mind, carriers are actively looking to improve their technology by evaluating systems while paying closer attention to the financial impact they may have on their organization.

INN:
What types of new features are available in the policy admin systems today that have a positive downstream affect on the distribution network and can provide substantial ROI?

TW:
Modern policy administration systems offer new and flexible tools to support product development and distribution. Open architectures that support web based distribution for insurance products allow carriers to deliver products via agent portals or direct to consumers, drastically improving speed to market and premium growth. Being able to integrate with comparative raters and lead generation sources allows agents to access new customers and process business in real time. Solutions having the ability to integrate with data providers allows agents to evaluate risks more accurately which improves underwriting accuracy and efficiency. This ultimately leads toward having a positive impact on the insurance carriers ROI.


About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.

Contact: Mike Hernandez
Phone: (866) 299-1314 ext. 35035
Fax: (708) 534-0163
mhernandez@insuresoft.com ©2010 Insuresoft, All Rights Reserved.

Insuresoft's Diamond System Provides Property and Casualty Carriers with a Single Platform for Personal and Commercial Lines of Business

As seen in the July/August 2010 issue of Insurance Networking News.

Insuresoft's Diamond System Provides Property and Casualty Carriers with a Single Platform for Personal and Commercial Lines of Business
Insuresoft, a leading provider of insurance software, announced in June the expansion of their award winning policy administration system, The Diamond System, for property and casualty commercial lines of business. Louie Bode, Director at Insuresoft, has provided his insight and rationale on this recent expansion.

I recently spoke at the 10th annual Insuresoft User Group Meeting in Grapevine, Texas. Surrounded by our customers, I talked about the trends in the commercial lines world, the challenges the economy has placed on carriers and Insuresoft’s approach toward developing a commercial lines policy administration system. Some of the highlights of my discussion focused on our development approach for releasing The Diamond System for commercial lines:

1.) We wanted to keep it simple.
We heard time and time again that carriers desired to simplify their policy, billing and claims systems to the point where they reside on one single platform. The sheer updating and maintenance on multiple systems takes immense amounts of resources and ultimately opens up the possibility of errors when data entered does not sync with each of the systems.

2.) We focused on creating programs that would enhance our customer’s current markets.
With commercial lines accounting for a large share of all premiums written in the United States, Insuresoft targeted this lucrative market for our customers who currently write or who are considering writing commercial lines of business. With proven technology as the primary driver, expansion decisions by our customers become easier to do.

3.) We wanted to create an easy to use environment.
Insuresoft has been working on creating a fluid environment of commercial processing from the back end to the point of sale agency web portal. The following are some of the commercial lines Insuresoft has been developing:


BOP
Crime
Commercial Auto
Umbrella
Inland Marine
Workers Compensation
Garage
General Liability
Commercial Property
Commercial Package

4.) We wanted to build on Insuresoft’s proven technology track record for the property and casualty Insurance industry.
For 14 years, Insuresoft has been focused primarily on implementing personal lines policy administration for its customers. During that time, Insuresoft delivered an astonishing 93% customer satisfaction rating. Insuresoft’s Diamond System has also been the recipient of numerous awards and accolades including a recent Technology Decision RAVE award based on achieving the highest Average Customer Experience Rankings (ACE) from NOVARICA in the policy administration category.

5.) We wanted to include a little of our culture in the product.
Our products are only as good as the people behind them. At Insuresoft, our customers know us on a first name basis. Our technology enables us to compete with much larger companies while our approach to our customers gives us the personal touch missing from many companies today. With these goals accomplished, Insuresoft proudly released The Diamond System for commercial lines. The Diamond System now provides carriers with a single platform for policy processing, claims, billing and reporting thereby eliminating the need to process policies on multiple systems. The Diamond System from Insuresoft now makes personal and commercial lines policy administration easy.

About the author:
Louie Bode has over 21 years of experience in Product Development for the P&C industry and currently serves in the position of Director at Insuresoft. Prior to joining Insuresoft, Mr. Bode served as the President of e-MGA and currently remains on its board. In 2008 e-MGA acquired his former company Insure Information Technology, Inc dba¬ e-Bode Systems. In 1999, he left his position as a VP of Product Development of an insurance company in the Southeast and started the technology Company. As founder and President he was vital in creating a visionary direction that set out to automate insurance operations over the internet. Louie is a graduate of Florida State University.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.

Contact: Mike Hernandez
Phone: (866) 299-1314 ext. 35035
Fax: (708) 534-0163
mhernandez@insuresoft.com

Monday, June 21, 2010

Insuersoft's 10th Annual User Group Meeting

June 18, 2010

Insuresoft’s 10th Annual User Group Meeting (6th since their spin-off from Applied Systems) was held on June 8-10, 2010 at Gaylord Texan Resort and Convention Center in Grapevine, TX.

The meeting opened with a brief welcome and overview of the night’s activities by Insuresoft President & CEO Tony Villa. Held 36 stories above the field in the Dr. Pepper Skybar, the meeting featured a tour of the new Cowboy Stadium, a meet and greet with former Dallas Cowboy great Ed “Too Tall” Jones and a performance by the world famous Dallas Cowboy Cheerleaders.

The venue then shifted back to the Gaylord Texan for a day and a half of updates, presentations and panel discussions that included a mixture of Insuresoft subject matter experts and customers. Topics for this year’s meeting included Diamond updates, rules engine information, product migration strategies, discussions on the non-standard auto market and Insuresoft’s commercial lines launch which was recently announced during IASA a couple of days earlier. At the end of the final day, individual team meetings between customers and their respective Insuresoft account team took place.

“With all of the things happening in our office, it is difficult to justify going to any outside event,” stated Neel Choate, Agricultural Workers Mutual Auto Insurance Company , “but Insuresoft does it right by keeping the agenda to a day and a half which makes the Insuresoft User Group Meeting time well spent.”

About Insuresoft:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, with offices in Alabama and Minnesota. For additional information, please visit http://www.insuresoft.com.¬

For more information:
Contact: Mike Hernandez at 866-299-1314 or email mhernandez@insuresoft.com

Friday, June 4, 2010

Insuresoft's Diamond System Expands into Commercial Lines for Policy Administration

Insuresoft, a leading provider of insurance software, announced today the recent expansion of their award winning policy administration system, The Diamond System, into property and casualty commercial lines of business.

For 14 years, Insuresoft has been focused primarily on implementing personal lines policy administration for its customers. During that time, Insuresoft delivered an astonishing 93% customer satisfaction rating. Insuresoft’s Diamond System has also been the recipient of numerous awards and accolades including a recent Technology Decision RAVE award based on achieving the highest Average Customer Experience Rankings (ACE) from NOVARICA in the policy administration category.

“Expanding into commercial lines was a natural progression for Diamond and Insuresoft,” stated Tony Villa, President and CEO at Insuresoft, “With the help of our customers, we have developed a complete, commercial lines policy administration system.”

The Diamond System now provides carriers with a single platform for policy processing, claims, billing and reporting thereby eliminating the need to process policies on multiple systems. The Diamond System from Insuresoft now makes personal and commercial lines policy administration easy.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.

Insuresoft Wins 2010 Rave Award from Tech Decisions and Novarica

Insuresoft, a leading policy administration provider for the property and casualty insurance market, received a 2010 RAVE Award in the Property & Casualty Policy Administration System category this week during the ACORD LOMA Insurance Systems Forum in Las Vegas, Nevada. The award was presented by insurance technology trade publisher Tech Decisions in conjunction with leading insurance analyst firm Novarica. The RAVE awards recognize solution providers whose technology delivers exemplary value to their customers, as measured by senior IT executives at P&C insurance companies surveyed by Novarica.

The RAVE awards, which are based on Novarica’s Average Customer Experience (ACE) Ranking methodology, are awarded to solution providers like Insuresoft who have attained the highest aggregate rankings during the past twelve months. The ACE ranking by Novarica measures customer satisfaction levels objectively across a wide range of areas, and the results are intended to guide insurers as they consider potential solution providers.

“This award is very important to Insuresoft and provides an objective report card to those P&C carriers evaluating policy administration vendors,” said Tom Westhoff, National Sales Manager at Insuresoft.

Insuresoft received 94% overall satisfaction for the win in the P&C Policy Administration System category with The Diamond System, a fully automated and integrated policy administration system for both personal and commercial lines insurance carriers. The Diamond System can be implemented as a component based or enterprise solution for policy, billing and claims processing. Built on the Microsoft .NET platform, it has a services-oriented architecture that enables web-based access for agents, consumers and other insurance carrier partners.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.

Tuesday, April 6, 2010

Insuresoft Improves Already High Customer Satisfaction Rankings in 2010 Novarica Study

March 29, 2010

Insuresoft, a leading policy administration provider for the property and casualty insurance market, was recently awarded a Novarica Average Customer Experience (ACE) Ranking of 94 – topping its 2009 ranking of 92 which was the highest ranking awarded in the Policy Administration System category.

ACE Rankings™ provide a transparent, un-edited picture of how well a solution or provider meets its users' needs. The rankings are based on an online survey of senior technology and operational executives at clients who have direct experience with Insuresoft’s products and employees. The Novarica Average Customer Experience Rankings™ are user-created evaluations of a vended software solution or IT service provider based on numerical surveys of at least 5 insurer or financial institution clients. Novarica validates the identity and responses of the participants, who are assured of anonymity.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.

Insuresoft Wins Entrepreneur of the Year Award

March 10, 2010

Insuresoft, a leading provider of insurance software, announced today that the Chamber of Commerce of West Alabama has named Insuresoft Vice Presidents’ Chris Blair, Joe Fendley and Prathima Ryali-Hancock as winners of the 2010 H. Pettus Randall Entrepreneurs of the Year in the Innovator category.

Entrepreneur of the Year is awarded to individuals who position their organizations to succeed now and in the future. The innovative and forward thinking in the technology space is the basis for recognizing these three individuals from Insuresoft with this prestigious award.

Awarded annually by the Chamber of Commerce of West Alabama, the purpose of the Entrepreneur of the Year Program is to recognize and celebrate the achievements of entrepreneurs in the Tuscaloosa County and West Alabama region. Johnnie Aycock, The Chamber of Commerce of West Alabama President, acknowledged the vital role Insuresoft has taken in the downtown Tuscaloosa business district and pointed to Blair, Fendley and Ryali-Hancock’s leadership as the main reasons for its success. “Insuresoft’s innovative spirit has helped downtown Tuscaloosa thrive for the last 4 years”, Aycock stated, “We look forward to seeing more innovations from Insuresoft in the near future and to our continued prosperous relationship with them for many years to come.”

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.

Kentucky National Insurance Company to Implement the Diamond System from Insuresoft

January 27, 2010

Insuresoft, a leading provider of insurance software, announced today that Lexington, KY based Kentucky National Insurance Company has signed an agreement to implement The Diamond System in Kentucky, Tennessee and Indiana for their commercial auto and liability lines of business.

“The Diamond System has all of the functionality we need,” stated Kevin Bruce, Director, Information Systems at Kentucky National Insurance Company, “Having an integrated solution that includes policy administration, billing and claims functionality was a key consideration during our vendor evaluation stage.”

The Diamond System is a fully automated and integrated policy administration system for both personal and commercial lines insurance carriers. The Diamond System can be implemented as a component based or enterprise solution for policy, billing and claims processing. Built on the Microsoft .NET platform, it has a services-oriented architecture that enables web-based access for agents, consumers and other insurance carrier partners.

“We are pleased to welcome Kentucky National as our newest customer,” states Tom Westhoff, National Sales Manager at Insuresoft, “Kentucky National is truly a perfect fit for The Diamond System and our turnkey approach to policy administration.”

About Kentucky National: Kentucky National Insurance Company, located in Lexington Kentucky, is “protection close to home”. They are the only domestic stock company in Kentucky to market exclusively through independent agents. In business since 1973, Kentucky National Insurance offers seven insurance coverage options- auto, home, boat, renters, manufactured home, dwelling fire and excess liability.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota

Ag Workers Mutual Auto Insurance Company Upgrades to Insuresoft’s Diamond .NET Policy Administration System Ahead of Schedule

January 2. 2010

Insuresoft, a leading provider of insurance software, announced today that Fort Worth, Texas based Ag Workers Mutual Auto Insurance Company and its subsidiary Worth Casualty Company have upgraded to Insuresoft’s Diamond .NET System throughout their offices in Texas.

”In order to help us reach our 2010 goals, we elected to upgrade to Diamond 5.0,” stated Neel Choate, Director of Communications at Ag Workers Mutual Auto Insurance Company, “The efficiencies and expanded features that Diamond 5.0 provides will help set the technology foundation needed to meet these goals.”

The Diamond System is a fully automated and integrated policy processing system for both personal and commercial insurance carriers. Both customizable and scalable, the Diamond system is a turnkey solution for policy processing, rating, billing, claims, reporting and other business-critical functions. Built on the Microsoft .NET platform, it has a services-oriented architecture that enables web-based access for agents, consumers and other insurance carrier partners.

Originally scheduled for an April 2010 go-live, Ag Workers conveyed the importance of an accelerated go-live to their Insuresoft team. The Insuresoft team understood the reasoning behind the new date and responded to their customer’s business need.

“Both teams collectively reviewed priorities and resources while developing the accelerated timeline for their upgrade,” stated Chris Blair, Vice President of Account Services at Insuresoft, “The planning and effort by employees of both Ag Workers and Insuresoft were the primary reasons why this upgrade went so smoothly. In fact, the upgrade ended up being 2-½ weeks ahead of the January 2010 go-live target!” The extra 2-½ weeks time is already being put to good use. Ag Worker’s upgrade to Diamond 5.x was just the first step in a list of technology enhancements planned for 2010. “We look forward to successfully delivering multiple and diverse web portals during the first quarter of 2010,” Choate concluded.

About Agricultural Workers Mutual Auto Insurance Company:
Ag Workers provides auto insurance to exceptional drivers affiliated with the vast industry of agriculture, including farmers, ranchers, educators, veterinarians, land owners and those involved in agricultural related business. As a mutual company, Ag Workers customers are more than policy holders, they are members and Ag Workers has paid their members a dividend each year for over 60 years. Founded in 1948 on the promise to maintain a select-risk group of drivers, and deliver the highest quality of service possible, Ag Workers continues to meet the challenges of the changing environment while fulfilling its promise daily. Visit www.agworkers.com for more information on how you can become a member.

About Insuresoft, Inc.:
Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, and has offices in Alabama and Minnesota.