US-based insurer K&K Insurance Group has deployed the quicksolver rating and policy administration software developed by Instec, a provider of software and services for the commercial property and casualty insurance industry.
The quicksolver, which replaced the company’s legacy rating software, will support its full rating lifecycle, including quotes, endorsements, renewals, cancels, and audits for property, inland marine, crime, general liability, and commercial auto across all 50 states in the US.
The software is also used by the company to set up new insurance programmes, add text forms, set bureau revision effective dates, define rating modifiers and security parameters for increased self-sufficiency.
The quicksolver is also integrated with K&K Insurance Group’s back-end policy administration software.
K&K Insurance Group executive vice president and chief operating officer Gerald Montero said the company receives more than 3,000 revisions annually from Instec prior to the effective date, which enables the firm to serve its customers in a differentiated fashion.
K&K Insurance is a provider of sports, leisure and entertainment insurance products.