The new embedded version of RCT looks and feels like QuoteWorks and stores the valuation data with the client quote information in the same database. Up until now, AMS said, an agency had to exit the rating system and re-enter duplicate data in the valuation tool, slowing down the sales process.

Salil Donde, senior vice president and general manager of Windsor, Conn.-based AMS Rating, said, “Accurate replacement cost estimation is an important part of making sure the homeowner is insured for the proper amount. With this release of QuoteWorks we are now able to provide our agency customers with an integrated workflow that includes RCT replacement cost functionality.”

Peter Wells, senior vice president of New Berlin, Wis.-based Marshall & Swift/Boeckh, said, “Because RCT prepares component-based estimates using a homes unique characteristics and local material and labor costs, policyholders receive a more accurate replacement cost valuation.”

AMS Services Inc. provides software and automation services to distributors of insurance and financial services.

Marshall & Swift/Boeckh is a provider of local building cost information and estimating systems in the U.S. and Canada.

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, August 11, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.