“Too often, insurance firms find their core systems are hindering them from achieving key business goals.
Underwriting agency seeks total data transparency and complete data understanding
In order to write better informed business and achieve growth plans.
Agencyport Software, a leading provider of software and services to the global insurance and reinsurance industries, announced today that it will provide WhiteOak Underwriting Agency with OPEN Core Platform: MGA, Agencyport's end-to-end MGA policy administration solution.
OPEN Core Platform: MGA will be the administration platform for the entire WhiteOak business, starting with capture and standardisation of bordereaux through underwriting, accounting, claims processing and reporting functions—and linking the whole process together.
Graham Ward, Finance Director, WhiteOak said: “OPEN Core Platform: MGA provides rich workflow functionality to support our complex immediate requirements, and at the same time is engineered to scale with us. It allows our team to both perform drill-down analysis at the line level and see the whole picture of our business. This dual perspective enables us to performance manage our coverholders and provide better transparency to our capacity providers, ultimately write better business.”
Agencyport's OPEN Core Platform: MGA enables granular-level data reporting and a comprehensive view of the bordereaux data; reconciles accounts; and provides data at the point of decision within a user friendly tool.
Phil Race, Managing Director, Agencyport Software Europe said: “Too often, insurance firms find their core systems are hindering them from achieving key business goals. The inability to access and manage the holy grail of insurance–data—is often the main obstacle. At Agencyport, we understand the importance of having the right data when you need it and the tools to analyse and report on that data in an agile manner. With OPEN Core Platform: MGA, WhiteOak can continue to provide excellent service as it fulfils its growth plans.”
OPEN Core Platform: MGA provides an agile end-to-end policy administration solution, including dashboard reporting and data control. The software forms a single scalable solution to capture and process bordereaux and manage the entire insurance process. In addition, OPEN Core Platform: MGA provides governance functions, reconciliations, data reporting and controls and workflow processes to help facilitate a well-structured, compliant business.
About Agencyport Software
Agencyport Software (www.agencyport.com) helps insurance providers use technology to manage change—a force that has never been more constant than it is today. Agencyport listens; driving an open, community-led approach to product development, brought to life by people with un-paralleled industry knowledge. The result: first-class technology, delivery and support. Upon a single technological foundation, Agencyport delivers powerfully agile, open and intuitive solutions to optimise and support one of the world’s most complex and fluid industries.
About WhiteOak Underwriting Agency
WhiteOak is a specialist Insurance Underwriting Agency primarily focussed on worldwide automotive related products. We provide expert underwriting solutions on Physical Damage (Insurance and Reinsurance) on both commercial and private vehicles; Forestry, Logging, Construction and Agricultural equipment; Motor Truck Cargo; Extended Warranty and Asset protection.
WhiteOak has been founded on a tradition of Lloyd’s underwriting and claims excellence. We have drawn together the best London Market skills available into a team that will deliver our objectives to provide a competitive product with high quality service levels.
We understand that providing a comprehensive and professional claims service is paramount to the success of our business and we have developed and installed bespoke IT and management reporting systems to ensure the delivery of a superior claims service.
OPEN Suite by Agencyport
OPEN Suite is a market-leading portfolio of applications delivered by Agencyport. The suite is built upon OPEN Foundation v4, an adaptable application development environment that sits at the heart of Agencyport’s product strategy.
Within the OPEN Foundation, business functions are expressed as workflow processes and rules rather than as hard-coded developments. This philosophy, and the technology within the OPEN Foundation, enables insurance businesses to quickly adapt the solution, whenever and however needed; from adapting screens to embedding workflow logic such as ‘actions’ and ‘behaviours.’
It is the OPEN Foundation that gives the OPEN Suite its agility. In an industry where change is the new normal, OPEN Suite provides the answer for players in the insurance industry wanting to adapt, evolve and respond to change faster than their competitors.
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