Leading insurer to automate commercial lines distribution via the largest network of independent insurance agents
TAMPA, Fla., March 24, 2021 (GLOBE NEWSWIRE) — IVANS Insurance Solutions® today announced that Encova Insurance has selected IVANS Distribution Platform to market appetite directly in agencies’ daily workflows and automate submissions data exchange with their agency partners, increasing visibility of their products and reducing submissions cycle time.
“Independent agents are our customers and core to our distribution efforts, so we are focused on making it easier for them to do business at each stage of the policy lifecycle,” Encova Executive Vice President and Chief Strategy Officer John Kessler said. “IVANS Distribution Platform will enable agencies to quickly align with our appetite, then submit applications and supplemental documents, creating a collaborative digital customer experience that eliminates one-off communications and simplifies the overall process.”
IVANS Distribution Platform improves the entire commercial lines policy lifecycle. Unlike point solutions available in the market, IVANS Distribution Platform supports both straight through processing as well as more complex risks that require an underwriter’s attention. By identifying market appetite as part of the process, IVANS Distribution Platform increases efficiencies and submission volume and can lower declination rates. By supporting a broad set of commercial line types, the platform provides valuable data insights for insurers and MGAs to review submission and quote details against industry benchmarks.
“Brokers are looking to create frictionless customer experiences and are demanding an easier and less time-consuming commercial lines submissions process,” said Reid Holzworth, chief executive officer, IVANS. “IVANS Distribution Platform enables Encova to eliminate the time-intensive and paper-heavy process for both themselves and their agency partners and delivers a smooth and digitized process for agents to automatically exchange data between the two systems, creating greater productivity and value for all stakeholders.”
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About IVANS
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 35 years, IVANS innovation and expertise has connected 33,000 independent insurance agencies and 430 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.
About Encova Insurance
A super-regional carrier ranked in the top 20 mutual insurance companies in the United States, Encova includes more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.77 billion and assets in excess of $4.3 billion. The group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South.
CONTACT: Lauren Malcolm IVANS Insurance Solutions 4048420055 lmalcolm@appliedsystems.com