Solutions Propel Customers to Celent 2009 Model Carrier Award Wins

Customers win two of the twenty 2009 Model Carrier Awards for their initiatives built on Exigen Insurance’s core systems and technology platform

AIU Private Client Group – New Business Automation 

Exigen Insurance Solutions’ platform is credited in Celent’s 2009 Model Carrier Report for having "introduced both automated underwriting and an account portfolio to better support brokers and staff as well as to sell and service the Group's high net worth customers." According to the report, the initiative helped Private Client Group to:

• business growth of 30% in 2008
• an IT expense ratio nearly half of industry average
• a 30% reduction in time for new business quoting
• 50% automated underwriting for policy changes
• enable staff to support 3x the amount of equivalent business in 2005

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Real Insurance – Speed-to-market and Product Innovation 

Real Insurance won for its world-first, “trust-based” pay-as-you-drive (PAYD) product introduction using Exigen’s policy, claims and billing solutions. According to the report, the Australian insurer was chosen “in part because of the innovative nature of the product and the quick time to market achieved through a phased implementation.” Real Insurance is cited for achieving the tight coordination required to take the project “from conception to market in a rapid nine months, including integration with its own direct e-commerce channel.”

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Forrester Names Exigen a 2009 Hot Insurance Tech Company to Watch  

Exigen Insurance is one of only seven companies named to Forrester Research’s “Hot Insurance Tech Companies to Watch in 2009” report.

Exigen Insurance is cited for its SaaS-based suite of applications and services which, “along with accelerating time to market (and revenue),” says the report, “also increases the efficiency of the insurer’s people and technology resources.  Insurance employees and agents get a unified, role-based  workspace that leverages all that data residing in multiple insurance silos.  

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PAY-AS-YOU-DRIVE NEWS

30 Million US Auto Insurance Customers Ready for Pay-As-You-Drive
According to a new Forrester report, forty-one percent of online US consumers with auto insurance are interested in a policy where premiums are determined by driving behavior such as mileage or driving carefully. Two-thirds of these interested consumers say they would likely buy a pay-as-you-drive policy. This translates to more than 30 million potential buyers. Read More »

Insurers Offer Rewards for Going Green
The Wall Street Journal reports that in the past year there has been a large uptick in insurance products offered to climate-friendly customers, including pay-as-you-drive (PAYD). Regulators also have adopted mandatory climate-risk exposure reporting standards. Read More »

PAYD RESOURCES

Exigen Pay-As-You-Drive Survey Report and Exigen Pay-As-You-Drive Webinar  

Pay-As-You-Drive Auto Insurance, a Brookings Institute, Hamilton Project research report, July 2008

PAYD Media Room, Exigen Insurance Solutions resources and links.

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