The Connect award
FLORIDA PENINSULA INSURANCE COMPANY
Marshall & Swift/Boeckh Real-Time Integration with Agency Link
Florida Peninsula worked with CSC to enhance Agency Link by adding a real-time link to order replacement cost reports from Marshall & Swift/Boeckh (MSB). The link automatically returns actual replacement cost information to the application in a format that can be used for both analysis and automated underwriting. After the policy is bound, the MSB quote number is automatically converted to the policy number for easy retrieval by agents and underwriters. Reports can be accessed, viewed and updated in Agency Link, and hard copies are stored and available for reference within Media Management.
In 2010, Florida Peninsula also introduced Agency Link enhancements to give agents real-time access to the MSB replacement cost report, which is maintained with the policy. Agents are now able to easily view, edit and update the MSB replacement cost report during an endorsement.
Automatic ordering of MSB replacement cost reports is important because it provides significant cost savings to agents and underwriters. The process of viewing, changing and updating replacement cost information is now blended seamlessly with the application, saving agents time and money. Underwriters are better able to verify the information in replacement cost reports to ensure accuracy and completeness. Replacement cost estimates are automatically updated each year by inflation factors and during the endorsement process. The process of creating, storing and updating policy replacement costs has been greatly simplified with Florida Peninsula’s Innovation Community enhancement to integrate the MSB link into Agency Link’s new business and endorsement workflow for agents and underwriting.
