FOR IMMEDIATE RELEASE
BETHLEHEM, PA, March 28, 2003 – The Adaptik Corporation today announced the release of its PolicyWriter: Agency Link facility, enabling carriers to improve policy acquisition through the rapid introduction of agency upload capabilities for all property and casualty lines.
“Insurance Companies have been looking for ways to reduce expenses through agent self-servicing of policies over the web. Likewise, agents have long sought to upload information directly from agency management systems to carriers in order to improve productivity and provide faster service to customers” stated John Pettit, President of Adaptik. “PolicyWriter: Agency Link helps achieve both these objectives quickly and in a cost effective way.”
The system utilizes IVANS Transformation StationTM to receive and respond to transactions from agency management systems in real-time, using the ACORD XML format, and the Internet. In addition to providing real-time quotes to agents, PolicyWriter: Agency Link includes special capabilities to compensate for missing or mismatched information in incoming quote requests based on carrier-defined rules. It accomplishes this without relying on company edits. For example, if a quote request specified the limit for a particular coverage to be $5,000 and the carrier only had options for $3,000 and $6,000, the system could adjust it to the closest, next higher or next lower option available depending on the PolicyWriter settings. These settings are independently specified for each piece of information providing carriers a high degree of control over such automatic adjustments. PolicyWriter: Agency Link provides the following benefits:
• Reduce redundant data entry by agency staff
• Minimize the need to learn another carrier’s proprietary system
• Respond rapidly to customer quote requests in real-time
• Reduce reliance on out-of-date carrier rating disks
• 24 X 7 responsiveness to customers
Insurance Company Benefits:
• Fortify agent relationships through providing an easier way of doing business
• Increase new business submissions
• Increase productivity of customer service representatives by eliminating data entry
• Reduce expenses through agent self-servicing
• 24 X 7 responsiveness to agents
• Facilitate the promotion and acceleration of agent book of business rollovers
About Adaptik Corporation
Located in Bethlehem, Pennsylvania, Adaptik Corporation provides highly flexible and cost effective software solutions to Property & Casualty insurers. Adaptik’s flagship product is PolicyWriter, a browser-based system that goes beyond traditional policy administration. PolicyWriter is designed to significantly speed up the introduction and evolution of insurance products – allowing the business to quickly take advantage of new opportunities. Adaptik products are supported by an equally adaptive implementation approach that dramatically reduces installation time and costs. Let Adaptik help change your focus from Policy Administration to Policy Acquisition.
For additional information on Adaptik, call (800) 306-1062 or visit our website at www.adaptik.com.
Ms. Loretta McGranaghan
Phone: (800) 306-1062
Fax: (908) 317-5620