iter8 products used to complete next phase in North Waterloo program to provide brokers ease of doing business
May 2011 - iter8 Inc., an insurance solutions software developer, is pleased to announce that North Waterloo Farmers Mutual Insurance Company (North Waterloo) has gone live with their new broker portal.
North Waterloo relies exclusively on a network of independent brokers, and made the decision to invest in technology to ensure their brokers have real-time access for quote and new business submissions for personal lines auto business. Carlos Rodrigues, President and CEO of North Waterloo commented, “We’ve made a multi-year commitment to effectively collaborate with our brokers using modern, innovative technology solutions. Our brokers want real-time upload from their Broker Management Systems combined with a modern portal, and that is perfectly aligned with our vision. ”
The iter8 broker portal products collabor8 and communic8 are being used to deliver the portal and ensure it is fully connected to broker systems and Compu-Quote rating. The portal is fully integrated with MCCG’s IBS insurance back office solution. An easy to use user interface combined with extensive functionality provides a state-of-the-art solution for North Waterloo’s brokers, while the combination of an underwriter and broker desktop deliver a market leading solution to the underwriters at North Waterloo.
North Waterloo has broken the multi-year project into several phases. The initial phase involved Personal Lines Auto and Property Broker download, which has been live for over a year, and generated such positive results it led to the September 2010 receipt of the Download Adoption Award from the Applied Systems Client Network (ASCnet). The next phase involved the primary components of the portal. This phase provides brokers with a choice in how they deal with North Waterloo. Brokers without real time capabilities can access the portal directly, while those with supported broker management systems can transact through their broker management systems or through third party rating systems, or through direct access to the portal.
The portal provides automated underwriting at the point-of-sale, enabling straight-through processing, and real-time quoting and new business submissions for Auto products. The next phase will enhance the depth of functionality, and subsequent phases will add lines of business to the portal.
Glen Piller, President of iter8 commented, “We are extremely pleased to work with North Waterloo on this strategic initiative. This phase represents the delivery of a modern, robust portal that delivers extensive functionality to underwriters and independent brokers.”
About North Waterloo Farmers Mutual Insurance Company
North Waterloo Farmers Mutual Insurance Company provides home, farm, commercial, and auto insurance. With over 137 years of experience, North Waterloo Farmers Mutual has developed a wide array of insurance products to provide peace of mind to its policyholders.
Originally established as a fire insurance company for the Northern townships of Waterloo County, North Waterloo Farmers Mutual has continually expanded its scope and geographic service area, and grown to become one of the largest farm mutual insurers in the country, and is the only farm mutual writing throughout the Province of Ontario. North Waterloo Farmers Mutual actively supports the independent broker network through which all products and services can be accessed.
iter8 Inc. is a software solutions provider to the Property and Casualty Insurance Industry, its products designed to increase profitability by solving problems – centered on Agent Portals, Agent Connectivity and Underwriting Operating Excellence – through smart innovation and proven expertise in both the insurance business and in technology, implementation, and service.
A dynamic, creative company, iter8 has a track record of successfully streamlining insurance processes, improving time-to-market, and saving companies money.
MCCG is an innovative software provider which has a fully integrated insurance back office solution (IBS) successfully implemented in a number of farm mutual insurance companies across Canada. Its proven track record can be attributed to a focus on client requirements and product quality. MCCG, established in 1993, is wholly owned by Canadian Mutual Insurance Companies with the mission of providing flexible software solutions to its clients. For more information visit: http://www.mccg.net
For more information contact
David Gallagher, Vice President, iter8
firstname.lastname@example.org or (416) 364-6306 x490
Josie Gaffney, VP and CIO, North Waterloo Farmers Mutual Insurance
email@example.com or (519) 886-4530