IVANS Product Innovation Driving Digital Distribution and Servicing
September 25, 2017
Recent innovation to improve ease of doing business across the independent agency channel
Tampa, FL – Sept. 25, 2017 – IVANS, a division of Applied Systems, today announced new products and services enhancements across its product portfolio at IVANS Connect 2017, the insurance industry event dedicated to advancing connectivity between carriers, agencies, MGAs and their insureds.
As the insurance industry’s exchange, IVANS connects insurers and MGAs to the largest digital distribution network of more than 30,000 independent insurance agencies. The IVANS network of connected agencies enables insurers and MGAs to directly market, distribute, and service insurance products via the independent agency channel.
Distribution and marketing product enhancements
IVANS Markets provides insurers an industry-first application to instantly communicate appetite and identify new business opportunities with agencies. The application provides insurers insight into an agent’s book of business – at the city, state, and line of business – to build new agency and business opportunities. IVANS Markets provides insurers a new channel to market product details and communicate risk appetite directly, increasing visibility directly to more than 30,000 agencies. Key enhancements include:
- Data-driven view of marketing success: delivers a view into the success of your marketing efforts through data analytics dashboards, measuring search views and profile clicks, as well as review how your appetite details appear and rank to agents.
- Premium renewal rate trends: provides market insights on the most profitable lines of business and competitive rates.
- Expanded lines of business: The search engine continues to add additional lines of business, enabling insurers to increase appetite visibility for more products to increase more desired in-appetite business.
Growing at a rate of more than 50% year-to-date, IVANS Rating Services enables insurers to provide instant rates for Personal Lines within comparative raters and integrated quoting within management systems. Connecting directly to IVANS’ digital network of more than 30,000 agencies, this cloud-based data exchange solution ensures products are represented to the largest network of independent agencies available, while reducing time spent managing one-off agent quote and vendor integration requests. Key benefits of IVANS Real-Time Rating include:
- Quote distribution through a single exchange: Eliminates time and expense spent configuring, managing and maintaining multiple connections across multiple, separate systems.
- Integrated quote distribution into agents’ existing workflows: Offers seamless inline quoting with agents directly within their existing daily workflows with agency management systems, comparative raters and other distribution platforms.
Automated servicing software enhancements
IVANS enables agencies, insurers and MGAs to access, review and effectively automate the exchange of policy-related information to drive higher productivity and better service across the insurance lifecycle.
- IVANS Exchange 2018: enables insurers to respond to Connections Report requests from their agencies. Insurers will be able to indicate if they have turned on a requested download for an agency or if they are in the process of fixing a reported download quality issue.
- IVANS Download: expanded to surety companies to automatically deliver bond documents and messages to agency management systems via eDocs and Messages download, saving time and expense spent printing, mailing and manually managing files.
“Changing consumer demands and new market entrants are requiring insurers and MGAs to build a digital strategy to more effectively leverage their independent insurance agency channel partners,” said Thad Bauer, vice president and general manager, IVANS Insurance Solutions. “As the industry’s largest digital distribution network, IVANS enables insurers and MGAs to find the right agent at the right time with the right product and services, building stronger business relationships and provide better service for the end insured.”
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IVANS, a division of Applied Systems, is the insurance industry’s exchange connecting insurers, MGAs, agencies, and the insured. IVANS cloud-based software automates the distribution and servicing of insurance products. For more than 30 years, IVANS innovation and expertise has connected 30,000 independent insurance agencies and 380 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.