MSB, a provider of building cost data and estimating technology to the property insurance industry, and Vertafore, a provider of software to the insurance industry, have entered into a partnership agreement to provide Vertafore's PL Rating clients with integration of pre-filled property data using MSB's Residential Component Technology (RCT).
The system enables real-time, once and done, insurance to value processing by accessing multiple carrier sites simultaneously where the agent is licensed. This improves speed and workflow efficiencies for agents.
With this solution, MSB will pre-fill building characteristics and other information needed for completion of homeowners' insurance applications using its InterChange service. Then, using MSB's new Grand Central Express web-hosted network, estimate requests will be routed to the appropriate MSB web-hosted sites for that agent.
Agents will then simultaneously complete estimates of replacement cost from the appropriate carriers represented within MSB's RCT Express service. Immediate transfer to the relevant carriers' RCT Express sites also means instant calculation of those carriers' valuation processes within the PL Rating workflow. This approach will eliminate agents' current, multiple data entry process and create a once and done environment for insurance to value.
"MSB is committed to solving some of the biggest challenges facing agents writing homeowners business in the marketplace today," says Jerry Fox, vice president agency operations for MSB. "By combining Vertafore's PL Rating and MSB's Grand Central Express services, the partnership enhances the multi-company comparative rating process."
"We've been partnering with MSB for many years, and as we've seen the exponential growth and the adoption of pre-fill data by our clients on the auto side, this new agreement adds tremendous value to our customers for homeowners work flow enabling a much more seamless interview process," says Dave Acker, vice president, rating and connectivity at Vertafore. "
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