Kerby-Reid launches mobile app for underwriters

Kerby-Reid has launched a mobile app to help insurance professionals calculate pro-rata and short-term premiums.
The app – the ‘Kerby-Reid Pro-rata Insurance Calculator’ – is available for Blackberry and iPhone/iPad platforms, is designed to help underwriters, agents and brokers calculate earned and unearned premiums using the standard pro-rata, ‘old’ short-rate or short-rate 90 formulas, a Kerby-Reid release says.

The app also allows for the creation of a custom short rate value by entering any penalty as a percentage from 1 to 99.
“We felt the insurance industry needed new tools to match the many technological advances that have taken place over the past decade,” said Chris MaKechnie, principal of Kerby-Reid.
“Until now, underwriters have had to pull out an archaic plastic wheel and calculate the pro-rate themselves, or rely on clunky web-based tools. We can now place a full-functioned calculator in the pocket of every insurance professional, where it is always available.” The calculator rounds the premium only at the final step of the calculation. Users can also select dollars ($), British pounds (£) and Euro (€) currencies.

The Kerby-Reid Pro-rata Insurance Calculator app can be found/downloaded (cost to download is $2.99) at:

iTunes: http://itunes.apple.com/ca/app/insurance-pro-rata-calculator/id461816605?mt=8

Blackberry: App World: http://appworld.blackberry.com/webstore/content/56099?lang=en