Media Coverage
Windows in Financial Services
The Source on Microsoft Technologies for Financial Services
Tuesday, March 17, 2009, 17:06
How Southern Risk deploys new programs to both their internal underwriters and customer agents on the web in a matter of days with Pagos Spreadsheet Services
Case Study: The Efficient Way
The Business Challenge
Southern Risk is a medium size MGA with written premiums in excess of $100 Million. They are serving 1,300 brokers in 13 states. Over the years they have licensed quoting solutions from various vendors but none of them met their needs.
Many rating systems claim to be flexible, but flexibility is a matter of degree. In the MGA world, underwriters are faced with rating for multiple carriers depending on the risk. Some carriers use ISO-based rates, others have use their own program rates. Some have minimum premiums at the class level, the LOB or the policy. Many have different structures for surcharges and discounts. Some even cross lines of business to blend liability and property rating for package products. Southern Risk has never found a rating system where you can quickly change not only the factors, but also the structure and user interface for looking up those factors. It has always had to go outside of underwriting into the IT department to get done.
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Read full Case Study published on Windows in Financial Services web site
