MFX, a provider of hosted IT applications and outsourcing solutions for the Property and Casualty insurance industry, has announced a new low cost, no risk, turnkey, professional service offering using tools and processes that MFX has developed for its Integrated Insurance Platform (IIP).
Using our private cloud, this innovative offering quickly imports MGA and TPA claim and policy data, validates the data with company-specific rules, and exports it into a targeted format used by the company’s operational systems. New MGAs and TPAs can be brought on quickly, transactional integrity is ensured, and rekeying errors are eliminated. Pricing consists of a one-time setup fee and a charge per upload.
"Virtually every P&C carrier in the industry is faced with ingesting variable data from its TPAs and MGAs into home office administration system(s) — a time-consuming, iterative process, fraught with errors and frustration both for the carrier and their TPA and MGA partners. The goal of making it easier to do business with MGAs and TPAs is high on every carrier’s list," said Mr. Raymond A. Roy, Chairman and CEO of MFX.
Mr. Roy went on to say, "Our solution, long a hallmark of our Integrated Insurance Platform, is now being offered as a low-cost, risk-free, standalone, turnkey professional service. We’re extremely confident of its potential to save time and expense for any insurance carrier, and to that end, we can offer companies a zero-cost proof of concept. We will prove our solution by taking a production MGA or TPA and implement it using our offering, to demonstrate our speed and accuracy."