Insurance Technologies Corporation (
ITC) last week announced the launch of embedded rating for auto insurance with four agency management systems.
The Carrollton, Texas-based group is extending its TurboRater’s Rating API to users of Agency Matrix, HawkSoft Inc., Partner XE by SIS and TechCanary. Users will be able to get rating services directly within their agency management system of choice, whether through desktop, mobile device or smartphone app, and will have access to the complete library of carriers offered through the ITC system.
All client and quote data is transferred between systems without further user action.
Laird Rixford, president of ITC, said the group has been contemplating this offering for some time as part of a push to create a more “open environment” in the insurance technology market.
“Quite a few other vendors are creating a ‘walled garden’ or closed system by choosing to make their systems work only within their own agency management system’s workflow,” he said. “That creates an environment where agents aren’t free to integrate multiple systems and use the one that meets their needs at the time, or gives them a choice. We’re doing something different.”
The launching of the embedded rating system is expected to give an additional 5,000 agencies and more than 20,000 users access to TurboRater. The system is also available for large insurance agencies to use in their dedicated management platforms.
While ITC is initially launching embedded rating for auto insurance, the group has plans to support homeowners and motorcycle insurance rating later this year with the same partners.
“I think agents should be encouraged by this development,” said Michael Doran, president of SIS. “It’s essentially giving them the same choice they offer their consumers – a chance to turn to different vendors when it makes the most sense. We’re excited to participate and even more excited about what it means for the independent agent.”
TurboRater has been available to independent agencies in some form since 1985, and has been updated continually according to user feedback and changing consumer needs.
