ATLANTA, GA and OKEMOS, MI – June 21, 2007 – NetRate Systems, Inc., a leader in Property & Casualty Rating and Applications software, announces an agreement to provide a Commercial Lines Rating System for Gramercy Insurance Company (GIC), a leading global property and casualty insurer. GIC will implement the NetRate solution to improve its rating and policy administration processes.
GIC will integrate the NetRate solution with its operational software. “We will now be better equipped to deliver competitive pricing and policy issuance in each of our market segments providing our clients real time quotes with accuracy and speed. These technology enhancements will reap immediate benefits for our producers and insureds,” says Antonio Barner, Vice President of Operations for GIC. “We will be able to quote and bind more business more readily. Over time we believe our new operating platform will allow GIC to increase levels of productivity.”
Adding these technology enhancements will allow GIC to grow its core business exponentially. GIC will improve its quoting accuracy while simultaneously reducing the internal workload for its underwriters. This focus on improved payment processing for its clients will ultimately result in improved cash flow. The reduction in errors and omissions coupled with increased efficiencies is expected to improve production by 25%+.
The application is supported by industry recognized ISO Commercial Automotive and AAIS Inland Marine coverages. To further efficiency, the NetRate Rating System will include ‘hands-free’ integration to QualCorp’s FormsPlus policy issuance package. This software integration will provide a consistent and effortless transfer of quote information and policy administration providing reductions in errors and omissions while expediting policy delivery to customers.
About Gramercy Insurance Company
Founded in 1979, Gramercy Insurance operates from dual offices in Dallas, Texas and Norcross, Georgia, spreading expertise in the Truck Physical Damage, Motor Cargo, Contractor Equipment, and Builder’s Risk arenas across the southern US, and beyond. Gramercy also insures and reinsures Contractual Liability Policies for Extended Service Contracts and is rated B+ by A.M. Best. For more information, go to www. gic.com.
About NetRate Systems, Inc.
NetRate Systems, Inc. supplies Commercial and Personal Lines Rating Systems to the Property and Casualty insurance marketplace. With sophisticated, yet intuitive, systems designed to eliminate manual references and to fully automate the full policy life cycle, NetRate products include nationwide rating of ISO General Liability, Property, Business Auto, Crime, Inland Marine, Farm, NCCI Workers Comp, and Personal Lines. NetRate also offers custom programming of all lines of business. NetRate Rating Systems include both desktop and web-based point-of-sale submission/ rate/ quote versions. NetRate also provides ‘hands-free’ integration of rating data to 3rd party vendor systems to facilitate policy issuance and administration. For more information, go to www.netrate.com</a>.
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