Analytics, cutting-edge mobile applications, and innovative underwriting tools to manage program profitability were the deciding factors behind SCJ Insurance Services' decision to award its policy administration system contract to Silvervine Software.
SCJ is a 40-year veteran program administrator and Silvervine Software is a leading provider of property and casualty insurance software for carriers and MGAs. This announcement is profound in both its speed to market and in the new capabilities to be unleashed.
A cornerstone of the deal includes an unheard of feat of speed in the insurance industry. Inked on May 19, the full system rollout will be completed by Aug. 15. The companies have agreed to a 90-day rollout period for three new programs, with additional rollouts scheduled for Sept.15, across multiple states alongside multiple ancillary products.
SCJ reviewed more than 35 insurance software solutions before choosing Silvervine. "We run our business with a focus on big data, analytics, and efficient workflows. It was paramount to find a partner that could deliver to our expectations and put their muscle into the deal. Silvervine’s team, V6 technology, and pipeline of coming innovations exceeded our expectations.
"When coupled with our proprietary technologies and ambitions; we are set for a truly unique and industry disruptive relationship," says Ryan Addis, Chairman and CEO of SCJ Insurance Services.
"Silvervine is just as tenacious as we are. Their business intelligence capabilities and workflows provide us with huge competitive advantages and, as a program administrator, they equip us with greater proficiency than many of the larger insurance companies."
"We are excited to have SCJ as a new partner and look forward to adapting our system to exactly suit the needs of SCJ’s business model," says Mark Waite, Managing Director of Silvervine Software.
"Our flagship Silvervine PTS V6 product is modular and scalable, easily accommodating multiple states and product lines, changing business models, evolving distribution channels and insurance mergers and acquisitions. It’s the ideal solution to support SCJ’s aggressive growth and diversification plans."
Silvervine Software is the P&C insurance technology platform of choice for many of the nation’s most sophisticated insurers and MGAs.
The company offers a flexible, web-based core administration suite, enriched with game changing innovations such as mobile account access, advanced data mining capabilities, and underwriting efficacy that translate to underwriting profits.
Founded more than 40 years ago, SCJ Insurance Services is a wholesale program administrator specializing in nonstandard auto insurance and complementary lines.