Nekema Inc. of Jersey City, N.J. and NetRate Systems Inc. of Okemos, Mich., have announced a new partnership that combines the companies’ technology solutions to provide property and casualty insurance carriers with the ability to offer real-time, online rating, quoting and binding to their appointed agents through a private label solution.
According to the companies, Nekema’s InsurePoint â„¢ system includes a robust interview engine that dynamically generates “smart apps” so carriers receive only completed applications that are nearly 100 percent quotable.
Once completed, the application is rated through NetRate’s rating engine, which provides real-time, company specific rates for up-to-date, accurate premium quotes. The data is then seamlessly transmitted to the carriers’ backend systems via XML, AL3 or other ACORD/IAA compliant messaging systems for policy processing and issuance.
Topics Mergers & Acquisitions
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