March 20, 2006 by Canadian Underwriter
MFX, a provider of technology and IT outsourcing solutions, has announced the Western Life Assurance Company in Alberta is using its WriteNow Web-based policy-writing platform for Western Life’s suite of ‘@pprove’ online, term life products.
MFX developed WriteNow to provide agents and brokers with the ability to qualify, rate, quote, bind and deliver policy documents in just minutes.
Ray Roy, chairman and CEO of MFX commented: “WriteNow presents a compelling argument for any insurer looking to offer life or property and casualty products online.
“As well as slashing policy issuance times, this platform provides insurers with the ability to keep products fully up-to-date by posting new rates in real time. New products can also be easily plugged-in; Western Life, for example, has just added a 100-year term life product to its @pprove suite.”
Western Life president and CEO Bruce Ratzlaff says MFX has an unmatched reputation in the industry for combining IT expertise with an in-depth knowledge of the highly regulated insurance marketplace. “By using WriteNow as the platform for our online products, our brokers have instant access to a simple-to-use, Web-based program that enables real-time policy writing and reduces issuance time from weeks to minutes,” he said in a press release.
WriteNow is provided by MFX on an application service provider (ASP) based model. It deploys an 80:20 strategy 80% of the solution is generic; the remaining 20% is customized to specific needs, including integration with legacy systems. Specialized customization services are also available from MFX, providing clients the ability to “white label” WriteNow to individual company requirements.