The platform offers end-to-end integration for insurance market rate access, along with built-in management and reporting tools
Image: QuinStreet launches insurance rating platform QRP. Photo: Courtesy of onnikontiokorpi/Pixabay
QuinStreet, a provider of performance-based marketplace products and technologies, has launched QuinStreet Rating Platform (QRP), a new rating platform that empowers insurance agencies to better serve customers.
As per QuinStreet, its QRP has been designed to solve an issue that has been troubling the insurance marketplace.
Earlier, insurance agents used up to three different systems to gather quotes for one prospective customer. Presently, large agencies use call centres staffed by hundreds of agents to deliver quotes to countless callers daily, from a siloed platform.
Such a juggling between systems that do not communicate can be problematic and leads to missed opportunities for agencies while consumers continue enduring long phone wait times.
Aimed at solving such inefficiencies in the insurance market, the QRP solution will allow agents to manage their entire workflow in one place, using one centralised and scalable platform. The platform is also claimed to enable insurance agents to pull real-time rates from major carriers and permits them to bind policies seamlessly.
The platform enables insurance agencies to gain a bird’s-eye view of their agent’s day-to-day business, longer-term goals, and individual staff activities.
QuinStreet built QRP on existing carrier integration APIs
The company said that the QRP was built using its existing carrier integration APIs and management dashboard. At first, the platform will be available for auto insurance and later on, it will be rolled out for homeowners and renters’ insurance.
QuinStreet CEO Doug Valenti said: “QRP is the culmination of so much of the work we’ve done helping insurers, carriers and consumers communicate and find each other, in an even more streamlined way.
“We are proud of this solution and hopeful that breaking the silo of information and products will result in better working environments and results for every agent and carrier who uses our product.”
QRP provides carriers a streamlined and direct relationship with insurance agencies at one place, acting as a one-stop-shop for compliance, profitability insights and other critical information.
The benefits offered by QRP include a reduction in call handling time, customised product pricing and performance reports, a single place for managing underwriting rules and access to segmentation data.