Agencyport Releases New Version of Portal Software

Agencyport Software, a provider of software and services to the global insurance and reinsurance industries, announces the availability of AgencyPortal 4.5, the latest version of its platform for insurance companies to offer self-service portals to their retail agents, brokers, MGAs, and policyholders.

Over 30 p&c insurance carriers currently use AgencyPortal across personal, commercial, specialty, and reinsurance lines of business in several countries including all 50U.S. states. New usability features such as account management capabilities, predictive analytics, and user history tracking are introduced in this release. Each feature is also configurable in the AgencyPortal Toolkit.

The new version has an account management feature that carriers can enable in their agent portals for all lines of business. AgencyPortal Account Management allows agents to determine account eligibility for multiple lines of business based on the carrier appetite for the risk as well as whether a specific line is currently reserved. Common information on the agents' accounts is used to pre-fill the quote data, saving keystrokes and time and incentivizing agents to quote multiple policies at a discounted premium.  Account management also allows carriers to respond to common agent requests for a single view of all in-force, quoted, and historical policies for all lines of business associated with a specific account. 

"Agents request account-centric reporting and we've seen carriers customize some account management features over our projects. It tends to lead to better up-selling by agents so we're happy to extend our lead in agent portal features by offering account management off-the-shelf," says Mason Power, head of product strategy and marketing at Agencyport. "[The new version] also drives a better user experience for agents and consumers and helps carriers use the AgencyPortal Toolkit to build and maintain portals more quickly, saving them time and money."

Companies writing workers compensation policies can now sign up via Agencyport to leverage risk scoring from InsureRight, Valen's predictive analytics. InsureRight helps workers' compensation underwriters make dramatic loss ratio improvements by driving systematic and accurate risk-based pricing. Predictive scoring is integrated with AgencyPortal 4.5 and is also available to customers running other versions of AgencyPortal.

"Workers' comp carriers are excited about predictive analytics in AgencyPortal because they now have an easier way to enrich quote requests with risk scores at the point of sale prior to calling their rating engine," says Power. "Whether agents request the quote on the carrier's agent portal or send ACORD XML or ACORD form PDFs to carriers, carriers running on AgencyPortal will have hands-free access to predictive analytics to drive better pricing."