Merchants Insurance Group will receive an Impact Award from the Novarica Insurance Technology Research Council, a peer community of hundreds of insurer CIOs. More than fifty CIO council members reviewed dozens of case studies to select the winners for the 9th annual awards.
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“Delivering effective online quoting is critical for insurers in most lines of business, and Merchants’ initiative shows the real business impact of leveraging APIs to enable this key digital function”
Merchants developed an online quoting system integrated with its legacy back-end system via APIs to support a new line of business. Deployed over a two-year period, the system led to a 250% growth in completed quotes and enabled straight-through processing.
“Delivering effective online quoting is critical for insurers in most lines of business, and Merchants’ initiative shows the real business impact of leveraging APIs to enable this key digital function,” says Matthew Josefowicz, President/CEO of Novarica and moderator of the Council.
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“We are honored to be recognized by Novarica for this award,” said Stephen Cross, Vice President and CIO for Merchants. “Merchants Insurance Group is committed to innovation that improves the ease of doing business with our independent insurance agents.”
Merchants’ case study, along with case studies of seven other winners, and more than 20 additional cases considered for Impact Awards, was published this week in Novarica’s 9th Annual Impact Case Study Compendium, online at https://novarica.com/compendium2020/. Novarica has published more than 220 case studies through this program since 2012.
