Vertafore First to Integrate Marshall & Swift/Boeckh's Grand Central Express (GCX) Network Improving Homeowner Insurance Policy Issuance
MILWAUKEE, Nov. 15, 2012 /PRNewswire via COMTEX/ --
Marshall & Swift / Boeckh (MSB), today announced that Vertafore PL Rating is the first comparative rater to implement its Grand Central Express (GCX) Network solution. Integrating GCX delivers significant process automation eliminating the need for insurance agents to have to enter property data more than once into the rating system during homeowner insurance issuance. This enables carriers participating in GCX to provide their agents a seamless Insurance to Value (ITV) home cost estimate during the underwriting and binding process for homeowner insurance.
"MSB has been a strategic partner of Vertafore for many years, implementing MSB solutions into Vertafore PL Rating to improve the speed and accuracy of insurance issuance," said Dave Acker, Vice President of Strategic Market Development at Vertafore. "The integration aligns with our mission to transform agency and carrier workflows to help deliver increased productivity and exceptional customer experiences for agencies using PL Rating in turn providing faster and more accurate responses for their customers."
The GCX solution improves data accuracy and consistency through a single data entry process that significantly improves valuation consistency across carriers in the GCX Network allowing carriers to actively compete on rate, coverage, service, and agency relationships. In addition, this network provides better quote volume view for agents at the point of sale, further simplifying and improving their agent workflow.
"MSB continues to look for ways to support our agents and partners with products that deliver time savings and improved productivity," said Jerry Fox, Vice President of Agency Operations. "GCX coupled with the delivery of our Interchange pre-fill product to the agents' desktop is a major leap ahead for agents that sell property insurance."
"GCX enables an agency to transfer dwelling profile data to the carrier's RCT site in real-time, eliminating re-entry of data on the carrier's site. This avoids costly data entry errors and saves time," Fox adds. "This is a good example of how MSB is working directly with our agents and carrier partners to create an efficient once and done workflow for building valuation for our clients."
About Vertafore Vertafore delivers software and services that transform the business of insurance. Unique to the industry, more than 20,000 customers rely on Vertafore to provide integrated technology that connects the entire industry with the most complete source of solutions--agency management, rating and connectivity, content management and workflow, information solutions and producer lifecycle management--so their businesses run better and are more profitable. For more information about Vertafore, please visit www.vertafore.com.
About Marshall & Swift/Boeckh (MSB)Marshall & Swift/Boeckh (MSB), a Decision Insight Information Group company, is the leading provider of building cost information, residential and commercial analytics solutions and book of business management services for the property insurance companies, financial services organizations and government entities. MSB offers the industry's most extensive and validated underwriting and claims property data. Throughout their eight decades of experience, they have compiled a strong track record of consistently developing innovative property solutions, analyzing our clients' operations and providing them with the assistance needed to dramatically improve their business results. This track record continues today as they serve as the hub for all of their client's property needs and work tirelessly to help them maximize their profitability and achieve a competitive advantage.
About Decision Insight Information GroupDecision Insight Information Group, located in the U.S., Canada and Europe, delivers a comprehensive range of information, infrastructure and decision support products and services for financial and legal professionals. Operating at the heart of the property industry, Decision Insight Information Group manages complex information solutions and provides clarity on decision making for buying, selling, conveyancing, financing and insurance. Decision Insight companies include MSB and DataQuick in the U.S., Access Point Information Canada, SearchFlow, xit2 and Decision Insight Hub in the UK, Millar & Bryce in Scotland, Rochford Brady Group in the Republic of Ireland, and Wertweiser, a joint venture with HVB Bank, in Germany. Decision Insight has 1,100 employees in 16 offices. For more information, visit www.decisioninsightgroup.com. Decision Insight Information Group is a TPG Capital portfolio company.
SOURCE Marshall & Swift/Boeckh
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