FOR IMMEDIATE RELEASE:
First Internet Solutions Integrates RiskMeter’s Real-Time Risk Reports into its Equip® Policy Administration Policy Suite
Sheboygan Falls, WI, May 27, 2010 - First Internet Solutions (FIS), a provider of Web-based quoting and policy administration applications for property & casualty insurance companies, has partnered with the RiskMeter Online. This partnership will provide FIS users with the same straight-through-processing capabilities as their larger carrier competitors.
“In the property and casualty insurance industry, it’s crucial for underwriters and agents to accurately weigh various natural hazards,” explains Dan Munson, Founder, RiskMeter Online. “For example, Distance to Coast, Proximity to Earthquake Faults and Distance to FEMA Flood Zones are all used to determine pricing. Through the use of mapping technology, the RiskMeter Online helps agents and underwriters to quickly determine a policy’s proximity to over 30 natural hazard risks,” says Munson.
Many small and midsized insurers are finding their agents and underwriters are spending a considerable amount of time gathering information from different systems, maintaining files and answering questions from various parties. FIS has eliminated a lot of unnecessary back and forth between underwriters and agents by offering straight-through-processing through its Equip® Policy Administration suite. Once a user types in a policy’s address, RiskMeter’s servers will automatically pre-fill natural hazard data into the FIS’ Equip forms.
“Although there are many benefits to automating the underwriting process, a major drawback is that it requires IT departments to take on another costly long term project,” explains Brian Schaff, CPCU, Member, First Internet Solutions. “Over the years I’ve spoken to insurers who have been working on an in-house project for years and they weren’t even close to being done. Since FIS is Web-based, we can provide carriers with a customized solution and have them up and running quickly, says Schaff.
For more information about this partnership, please contact Kathy Schuette, Marketing Manager, First Internet Solutions at Email or Daniel Munson, Founder, RiskMeter Online at Email
About First Internet Solutions, LLC
First Internet Solutions, founded in 1999, offers a strategic business choice of SaaS or traditional licensing of their Property & Casualty Equip® Policy Administration product suite. Carriers can choose to enhance their legacy system or replace it by selecting uniquely tailored web-services and applications. Equip allows carriers to extend their application process to agents in the field, streamline their underwriting process, and increase their competitiveness in the marketplace. Additional value added services of FIS include web design and hosting, complete project management, custom programming and IT outsourcing. First Internet Solutions employees are experienced on multiple platforms and databases and have an average of 20 years of property and casualty insurance experience.
About RiskMeter.com
The RiskMeter is used by underwriters and agents to automate property lookups. The RiskMeter utilizes Internet mapping technology to enable underwriters to determine the proximity to natural hazards for any property in the Unites States. The RiskMeter is far more accurate and faster than any other method of property lookups, and can save underwriters considerable time and money. The Risk Meter performs many types of lookups, including distance to coast, windpool eligibility, rating territories (company specific), proximity to brush, earthquake information, flood zones and others.
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NOTE TO JOURNALISTS: To view the entire FIS suite of products and services contact Kathy Schuette, Marketing Manager at 920-467-1200 Ext. 211, or Email, www.1inetsol.com. To arrange for a demo of RISKMETER, contact Val Feeney, Business Partnership Manager at 617-737-4444 or, www.riskmeter.com
