Okemos, MI, May 17, 2016 – When MGU and MGA Associated Insurance Administrators (AIA) was looking to bring a brand-new program to market, they selected the NetRate Commercial Lines Rating System, a high-performance rating solution that combines customization with ease of use and intuitive interfaces. The power, flexibility and ability for NetRate to respond effectively and efficiently not only for AIA’s initial launch, but also as they expand the program in the future spoke, to the MGU/MGA’s requirements. NetRate delivered a solution that met AIA’s specifications, and completed it ahead of schedule.
“Our underwriters looked at several commercial lines insurance rating systems to help us deliver to agents and brokers our new and exclusive Property & Casualty program designed for a wide range of industries,” said Bo Stewart, IT Director at AIA. “Bar none, our underwriters fell in love with NetRate’s rating solution. They have the depth of experience and a mature product that enabled us to go to the market quickly and effortlessly.”
AIA’s exclusive Property & Casualty program, which includes General Liability and Property policies, was officially launched in February in Alabama. Future expansion plans include enhancing the program with additional coverages and making it available in other states, including Georgia, Tennessee and Mississippi.
“Our rating solution from NetRate was completed late November, which was much sooner than we had expected,” commented Bo. “The system performs all the functions we wanted it to and more and, as we add new coverages and additional states, we are confident that NetRate will be responsive to our needs.”
The beauty of the NetRate Commercial Lines System also lies in the fact that it can easily integrate with a client’s in-house or third-party system. “We were able to integrate our rating solution with AIA’s in-house issuance system,” explained Rob Zuzula, Director of Marketing & Product Services, NetRate Systems. “It’s critical that our clients work seamlessly between systems and share information using our XML or data warehousing system. Our goal is always to eliminate the need for duplicate work processes and data collection.”
Additionally, NetRate generates statistical coding for AIA’s policies and passes the codes to data aggregator CGI, which handles the ISO reporting to the different state agencies.
Founded in 1993, Montgomery-based AIA has managed a Workers’ Compensation program throughout Alabama, Tennessee, Georgia, South Carolina, and Mississippi. In 2012, AIA expanded its operations by adding a Property & Casualty division offering placement with a variety of carriers, both admitted and non-admitted. Part of this expansion now includes their new P&C program. AIA’s experienced underwriters are adept at understanding, handling and supporting complex and challenging accounts.
About NetRate Systems
NetRate Systems, Inc. supplies Commercial Lines Rating and Policy Issuance Systems to the Property and Casualty insurance marketplace, primarily to MGAs, Program Administrators, Carriers, and Lloyd’s Coverholders and Risk Takers. Its systems are designed to automate submission workflow and processing, underwriting, rating, document generation, policy issuance, and reporting through the full policy life cycle. The rating and policy issuance solutions include support for all major ISO® lines of business, nationwide. NetRate also offers custom development of all lines of business, including custom Professional Liability. The NetRate solutions can be deployed as hosted, cloud-based web services, Windows applications, or hosted, web-based portals. NetRate Systems also provides integration of third-party data sources and services to speed up the quoting and subsequent reporting processes. The firm also has strong partnerships and integrations with third-party policy administration systems. For more information, visit www.netrate.com.