IVANS Driving Increased Connectivity Between Insurer, MGA and Agency Partners
Data indicates rapid growth of connectivity across the independent agency channel via IVANS
Tampa, FL – Nov. 30, 2016 – IVANS, a division of Applied Systems, today revealed compelling data that demonstrates increased connectivity and information exchange between insurers, MGAs and insurance agencies via the IVANS network. Data reveals significant market adoption of IVANS Download, particularly eDocs & Messages, Claims, and Commercial Lines, and distribution software, driving increased automation and growth throughout the insurance lifecycle.
IVANS is the property and casualty insurance industry’s exchange connecting insurers, MGAs, and agencies. In 2015, more than 128 million automated transactions were enabled by IVANS to enable agents and insurers to more effectively sell and service their customers. Leading insurers who have recently selected IVANS to access 30,000 agencies for increased distribution and service opportunities via a single platform include: Allegany Co-op Insurance Company, Capital Insurance Group, CFM Insurance, Columbia Insurance Group, Consumers Insurance USA, GeoVera Holdings, Inc., Merchants Insurance Group, Ohio Mutual Insurance Group, Pioneer State Mutual Insurance Company, Rockford Mutual Insurance, Safety Insurance, Security First Managers, and Star Casualty Insurance Company.
Key growth trends from 2013 – 2015 include:
- Exponential Growth of ACORD eDocs and ACORD Messages – ACORD eDocs and Messages exponentially grew, with 575 percent growth in transactions and 50 percent agency adoption growth.
- Increase in IVANS Claims Download – at the end of 2015, 7,106 unique agents were receiving IVANS Claims Download and 5,300,715 IVANS Claims Download transactions were conducted, exhibiting a 63 percent increase in both agent connections and transactions.
- Growth of IVANS Commercial Lines Download – at the end of 2015, 18,849 unique agents were receiving IVANS Commercial Lines Download, representing a 16 percent increase from 2014. Additionally, total transactions increased by 25 percent to 9,487,341 in 2015.
“Our data shows that more than 80 percent of agents find the availability of download to be very important when selecting insurers to do business with,” said Thad Bauer, vice president and general manager of IVANS Insurance. “As the demand for increased connectivity grows, IVANS remains committed to delivering innovation to further automate service and enable digital business interactions through the industry’s exchange.”
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IVANS, a division of Applied Systems, is the property and casualty insurance industry’s exchange connecting insurers, MGAs, and agencies. IVANS open platform securely automates the exchange of policy, quote and market related information and connection opportunities. More property and casualty insurance companies rely on IVANS innovation and expertise than any other company to automate the insurance lifecycle and enable millions of people to safeguard and protect what matters most.