MILWAUKEE, Aug. 3, 2012 /PRNewswire/ -- Marshall & Swift/Boeckh ("MSB"), the leading worldwide provider of building cost data and estimating technology to the property insurance industry and IMT Computer Services, a provider of software to the insurance industry, have entered into a partnership agreement to provide IMT's Vector™ clients with seamless integration of pre-filled property data using MSB's Residential Component Technology ("RCT"). The system now enables real-time, once and done, Insurance To Value ("ITV") processing. This improves speed and workflow efficiencies for agents and carriers.
With this innovative solution, MSB will first pre-fill building characteristics and other information needed for completion of homeowners insurance applications using its industry leading InterChange™ ("IC") service. Then, using MSB's new Grand Central Express ("GCX") web-hosted network, valuation requests will be simultaneously routed to the appropriate carriers MSB web-hosted sites ("RCT Express" sites) for that agent.
"MSB is committed to solving some of the biggest challenges facing agents writing homeowners business in the marketplace today," says Jerry Fox, Vice President Agency Operations. "With IC and GCX, the ITV process is truly a real-time transaction. By combining IMT's Vector™ and MSB's Grand Central Express™ services, the partnership enhances the rating process. The agent will get accurate rates quickly so they can do their job of recommending product to clients instead of inputting data multiple times. This is a real win-win situation for IMT's clients and the carrier network using our RCT ExpressLync™ service."
"This new agreement adds tremendous value to our customers for homeowners work flow enabling a much more seamless interview process," said Rod Shields, Senior Manager at IMT. "Combining this with the carrier base of RCT ExpressLync™ customers and their ability to receive the ITV data from its agents reduces the quote to issue time for all participants."
About Marshall & Swift/Boeckh (MSB)
Marshall & Swift/Boeckh (MSB), a Decision Insight Information Group company, is the leading provider of building cost information, residential and commercial analytics solutions and book of business management services for the property insurance companies, financial services organizations and government entities. MSB offers the industry's most extensive and validated underwriting and claims property data. Throughout their eight decades of experience, they have compiled a strong track record of consistently developing innovative property solutions, analyzing our clients' operations and providing them with the assistance needed to dramatically improve their business results. This track record continues today as they serve as the hub for all of their client's property needs and work tirelessly to help them maximize their profitability and achieve a competitive advantage.
About Decision Insight Information Group
Decision Insight Information Group, located in the U.S., Canada and Europe, delivers a comprehensive range of information, infrastructure and decision support products and services for financial and legal professionals. Operating at the heart of the property industry, Decision Insight Information Group manages complex information solutions and provides clarity on decision making for buying, selling, conveyancing, financing and insurance. Decision Insight companies include MSB and DataQuick in the U.S., Access Point Information Canada, SearchFlow, xit2 and Decision Insight Hub in the UK, Millar & Bryce in Scotland, Rochford Brady Group in the Republic of Ireland, and Wertweiser, a joint venture with HVB Bank, in Germany. Decision Insight has 1,100 employees in 16 offices. For more information, visit www.decisioninsightgroup.com. Decision Insight Information Group is a TPG Capital portfolio company.
About IMT Computer Services
A division of The IMT Group, IMT Computer Services provides complete software programs created by an insurance company specifically for mutual insurance companies. From software for your Mutual (APPS) to software for your agents, IMT's software solutions will provide a solid foundation for your Mutual's operations. First offered in 1978, today more than 130 customers in 15 states utilize the IMT Computer Services Programs. At IMT Computer Services, we understand that each business is unique. The software we provide has been developed to adapt to your Mutual's operation.
About The IMT Group
The IMT Group is proud of its Midwest heritage and will never forget where its roots are firmly planted. Locally run from its home office in West Des Moines, Iowa, IMT has been a Midwest company since it was founded in Wadena, Iowa in 1884. In addition to IMT Computer Services, The IMT Group consists of IMT Insurance Company and Wadena Insurance Company. IMT continues to offer the strong line of personal and commercial products for which it has always been known. Wadena Insurance Company was founded in 2007. It offers a state-of-the-art auto insurance program and auto processing system, as well as new Workers Compensation, Businessowners, Boatowners and Power Sports programs. While we are proud of our past, we are also proactively planning for the future. We are an insurance company advanced in automation and have won awards for our innovative technology. Our products are offered through nearly 800 Independent Agencies based in several towns throughout our six state territory which consists of Iowa, Illinois, Minnesota, Nebraska, South Dakota and Wisconsin.
SOURCE Marshall & Swift/Boeckh