November 13, 2018
End-to-End Suite is Cloud-based and Managed by Insurity’s Team of Core System Experts
Hartford, CT – November 13, 2018 — Insurity, Inc., a provider of a leading insurance platform that includes policy, billing and claims solutions, data analytics and digital enablement, announces that Alabama Retail Comp (ARC) has licensed Insurity’s Workers’ CompXPress Suite to improve operational efficiency across the policy and claims lifecycle, as well as enhance web portal access to its members and agency partners. ARC is a self-insurance fund representing more than 4,000 businesses in the region from small retail stores to large national chains. The cloud-based solution will provide ARC a seamless, automated core system integration across policy, billing, claims, and analytics.
As a self-insurance fund, ARC offers a substantial retrospective dividend plan, which returns excess funds to their members, based on the loss experience of individual members, as well as the financial results and operational efficiency of the fund. The Workers’ CompXPress Suite will provide the company with a more flexible, intuitive platform to streamline internal workflows, improve underwriting analytics and ultimately help increase dividend returns to their members. Additionally, the new system will enhance the self-service portal to provide a better experience for ARC’s members and agency partners.
“Alabama Retail Comp prides itself on offering its group members and agency partners the best possible experience,” says Mark Young, fund manager at Alabama Retail Comp. “Insurity is providing us with a simplified way of managing our business, which will ultimately help provide higher end of year returns to our group members and improved communication with agents.”
The Insurity platform also provides ARC’s management team with a wealth of dashboards and analytical tools to better analyze its business for quicker and improved decision making. The modern and intuitive user interfaces can be easily customized to different roles within the company. The solution leverages leading cloud security measures, including third-party penetration testing and market-leading disaster recovery planning to avoid loss of data and systems operation during emergencies, while utilizing market-leading cyber-attack prevention techniques.
“ARC is following an important trend in insurance, migrating their on-premises systems to a cloud environment where it is easier to manage and upgrade the solution, as needs shift,” says Michele Shepard, Chief Revenue Officer at Insurity. “Our end-to-end suite will allow ARC to focus less on their IT infrastructure, and more on running and expanding their business, by making the most intelligent decisions based on their data.”
The Workers’ CompXPress Suite is purpose-built for monoline workers’ compensation insurers and self-insurance groups of all sizes, based on Insurity’s deep industry expertise. For more information on the Insurity platform and their solutions, visit www.insurity.com.
About Alabama Retail Comp
The Alabama Retail Association was formed in 1943 for retailers by retailers who saw a need for representation when public policy was made. Today, Alabama Retail represents 4,200 members with some 6,000 locations statewide, ranging from small, family owned retail stores to large national chains. Since 1984, Alabama Retail Comp has been providing workers’ compensation coverage to Alabama employers, who desire a high level of customer service from their insurer, at a reasonable cost.
Insurity, Inc. offers innovative and flexible insurance technology that allows clients to meet their business goals and offer a simplified experience. With the market’s most advanced cloud operations, Insurity’s platform offers scalable, highly secure and reliable solutions that increase speed to value. Insurity’s solutions and deep understanding of the insurance business address the needs of all carriers – from the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information, visit www.insurity.com.