Independent Insurance Agents Who Feel the Need for Speed Get Their Fix from Progressive
Progressive Now Provides Real-Time Policy Billing Information Directly To Agents' Applied Systems Through IVANS Transformation StationTM
MAYFIELD VILLAGE, Ohio — October 15, 2002 —"When is my next payment due?" "How much will my payment be?" "Did the carrier get my payment yet?" Day in and day out, these are probably some of the most common questions independent insurance agents hear from their customers. And the considerable amount of time agents traditionally spend finding the information they need to answer these simple questions is time they could better spend developing new business relationships and growing their agencies.
That's why Progressive (NYSE: PGR), the country's largest writer of auto insurance through independent agents, is pleased to announce that it's now providing billing information — including billing status, payments, and due dates — to independent agents who use agency management system software manufactured by Applied Systems, a leading provider of automation solutions for the property and casualty insurance industry. This will make it easier than ever for these agents to get fast, accurate, "real-time" answers to common billing questions. This enhancement will help these agents:
- Provide more efficient customer service on all Progressive billing inquiries.
- Get greater return on their agency management software investment.
- Link to payment and endorsement processing on Progressive's agent-dedicated Web site, ForAgentsOnly.com (FAO).
Independent agents have asked us to bring them this functionality, and we're very excited to deliver," said Chris Garson, Progressive's agent business IT director. "We think that providing tools that meet these standards is an important objective in improving independent agents' workflow, and we'll be looking for more opportunities in the future to provide that kind of technology."
Progressive will make billing information available to its authorized, independent agents who use Applied software across the country. The information transfer will be facilitated by IVANS Transformation Station application, the industry's managed Internet data exchange for insurance real-time transactions. IVANS, Inc. provides e-commerce and networking solutions to the insurance industry. Transformation Station, using the Internet and ACORD Standards, manages the delivery and the transformation of messages between insurers, independent agents and brokers, and other parties.
Garson continued: "Independent insurance agents typically represent a number of carriers so they can provide consumers with maximum coverage choices. So without these kinds of initiatives, they must access multiple carriers' products or Web sites to sell and provide service. But as we work to streamline this process — in effect, giving agents a one-stop-shop for electronic communications and transactions — we help them become more technologically agile, able to provide faster service, and ultimately more competitive. That's why this is so important."
Influential industry groups, such as the Independent Insurance Agents and Brokers of America's (IIABA) Agents Council for Technology (ACT) have urged insurance companies to implement ACORD standards to provide independent agents faster and easier workflow. To date, 23 companies are, or soon will be, exchanging data in real-time using ACORD standards with Transformation Station. Progressive estimates that as it embarks on making its billing information available to agents using Applied, it will be a party in about one-third of all transactions through the infrastructure.
The Progressive group of insurance companies, in business since 1937, comprises the nation's fourth largest auto insurance group and the largest writer of auto insurance through independent agents. The more than 30,000 independent agencies that represent Progressive combine the power of personalized service and counsel with Progressive's trusted brand, superior 24/7 service, innovative technology and competitive rates. Authorized agents can logon to Progressive's agent-dedicated Web site, ForAgentsOnly.com (FAO), to access customer policies, state and countrywide news, and other interactive features. The group's holding company, The Progressive Corporation, is publicly traded at NYSE: PGR.
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