AMS TransactNOW Breaking Carrier Connectivity Records
Company Announces Strong Industry Support for Technology
Las Vegas (ACORD/LOMA Insurance System Forum) – May 23, 2006 —AMS Services today released transaction statistics that show overwhelming agent and carrier support for real-time transaction workflow. Since April, 2005, more than two million transactions have taken place through AMS Services' TransactNOW® solution, a rapidly expanding interface services platform. More than 60 carriers support the TransactNOW solution through its service transactions, endorsement processing, quoting function and Carrier Passport feature, an automated sign-on portal. Transaction rates have increased 789 percent since the solution was released in 2003 jumping to 8,000 per day. This amplified rate of adoption shows that agents and carriers are writing more business and satisfying more clients by using carrier connectivity technology.
"OneBeacon has seen a tremendous increase in inquiry transactions since introducing TransactNOW about a year ago," said Roger Bevan, vice president, OneBeacon. "Although our primary goal is to provide our agency partners with the benefits of real-time connectivity, OneBeacon has benefited as well. The increased use of TransactNOW has contributed to a decrease in the number of billing calls per policy to our Personal Lines Service Center over the last year."
The TransactNOW solution is the industry's fastest method to connect to carriers. The solution delivers quote requests, endorsement processing and new business submissions as well as comprehensive billing, claims and policy view inquiries from one simple interface. TransactNOW puts agents in direct, real-time contact with a carrier's client information database.
"I am very encouraged by the acceleration of carrier activity to implement real-time multiple company rating, and other real-time transactions, through the various agency management systems and comparative raters," said Jeff Yates, executive director of the Agents Council for Technology (ACT). "Real-time makes the sales process more efficient and positions independent agents and brokers for growth."
According to an article in the January 2006 issue of TechDecisions, technology adoption is on the rise within the insurance industry due to larger budgets and the need for improved service, faster information and faster transactions.
"We listened to what the industry wanted; a faster, easier way to connect to carriers," said Bill Bunker, senior vice president of product management and marketing at AMS Services. "The increase in transactions through TransactNOW validates the need for agents and carriers to provide the best customer service they can."
The TransactNOW solution works with AMS 360®, AMS Sagitta®, AMS AfW®, AMS Prime™, InStar™ and MARS™ management systems for both personal and commercial lines. This streamlined workflow allows agents to spend more time servicing clients and growing business and less time performing manual tasks.
About AMS Services
AMS Services is dedicated to helping independent insurance agencies achieve maximum performance and operational efficiency. The business offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in over 15,000 agencies, as well as 300 carrier partners, AMS Services is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. For more information on AMS Services, please visit www.amsworld.com
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AMS, AMS 360, Sagitta, AfW, Prime, InStar, TransactNOW and MARS are trademarks of Vertafore, Inc.
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Nanci Taplett AMS Services 425.354.6187 ntaplett@amsworld.com |
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