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AgencyPort and Proxix Solutions Assist in Improving Underwriting Results at AP Insurance
Realtime, Web Access to Location Intelligence Leads to Smarter Underwriting
BOSTON, MA and PALM HARBOR, FL, - April 3, 2006 AgencyPort, a leading provider of agency portal and interface software, has integrated its product to access geolocation information from Proxix Solutions, a location intelligence company that provides advanced geospatial software, databases and integrated solutions. With the combined product offering, insurance companies can access precise location information in real-time as their agents are submitting business over the web.
AP Insurance, headquartered in Boston, MA, has implemented the combined solution from AgencyPort and Proxix Solutions to significantly improve the accuracy of its underwriting. By incorporating AgencyPort’s AgencyPortal™ solution and Proxix’s geospatial services, AP Insurance can standardize their customer data to USPS standards, analyze complex spatial relationships, such as distance to coast and brushfire risk, to accurately rate and assess risks.
“By knowing more about the risks submitted to us over the web, we are able to make informed underwriting and pricing decisions”, states Adam Black, CEO of AP Insurance. “Geolocation information is especially useful to us in our homeowner’s line when we write business near the coast line, an area in which we specialize.”
“AgencyPort’s software products have dramatically improved property and casualty insurance companies’ underwriting efficiency and agency responsiveness”, states Steven Hauck, President of AgencyPort. “We are excited to incorporate geolocation information from Proxix with our software to further assist carriers by improving their underwriting results.”
“Our next generation geospatial tools deliver the unprecedented positional accuracy and location intelligence that insurance companies, such as AP Insurance, need to correctly assess risk,” stated Paul Wray, president of Proxix. “Leveraging the power of AgencyPort’s software and Proxix’s geospatial tools along with our hazard data provides insurance companies an industry-defining solution that enables them to substantially improve their underwriting.”
How It Works AgencyPortal™ is a web-based platform that allows carriers to implement transactions quickly over the web. Through Web services integration and AgencyPortal™ software’s ability to interface with Proxix’s geospatial services and hazard databases, AP Insurance and other insurance companies can access locational and hazard data relevant to their insurance application in real-time via the Web.
About Proxix
"Proxix Solutions (www.proxix.com) is a location intelligence company that provides advanced geospatial software, data and integrated solutions to help businesses make smarter decisions, understand and mitigate risks, cultivate profitable customer relationships and increase market penetration. In 2003, well-known leaders within the industry responsible for developing many geospatial industry firsts, including the first national address geocoder, founded the privately held company. Proxix is headquartered in Palm Harbor, FL with offices in Boulder, CO and Madison, WI."
About Sword Insurance
Sword Insurance, a Sword Group division, delivers software solutions that help companies around the world sell their products and service their clients throughout the customer lifecycle. We are the first to offer the unique combination of policy administration, CRM and distribution technologies along with robust business intelligence tools—a powerful mix that makes the complex business of insurance easier and smarter, and helps our customers seize opportunities and gain a competitive edge quickly.