PRESS
RELEASE: InsuranceIsland.com Improves Titan's Insurance
Processing
December
18, 2000 – Cleveland, Ohio – Today, the CEO of InsuranceIsland.com,
Madhavan Chakravarthi, announced a major accomplishment
and milestone in this insurance technology firm.
Titan
Insurance engages InsuranceIsland.com to process indemnity
policy rating in the state of Michigan by using QUILT
(Quality Insurance Transaction System), the sophisticated,
cutting-edge technology on InsuranceIsland.com. Independent
agents can now access InsuranceIsland.com and transmit
data to Titan for REAL TIME rating and issuance
of indemnity policies. InsuranceIsland.com's value
added solution cuts significant costs for Titan and
its associates.
"Titan
will process thousands of policies through InsuranceIsland.com.
We will become the industry standard for processing
insurance transactions on the Web," said Mr.
Chakravarthi.
Independent
agents are benefited through automation on InsuranceIsland.com.
Agents need not install Titan's software and deal
with desktop issues. The original Titan Rating System
uses DOS diskettes and had been an issue as agents
installed this old software on their PCs. Now all
they need is a Web browser!
Mr. Chakravarthi
commented, "We have experienced outstanding success
in the insurance industry through our 10-year-old
consulting venture, 2M Software Associates. InsuranceIsland.com
was commissioned this June to deliver focused services
to Insurance agents and insurance carriers."
InsuranceIsland.com
is a B2B Internet service for insurance carriers and
agents. Insurance agents can subscribe to a fully
integrated web-based agent management system, a home
page for their business, access to comprehensive list
databases, a real-time insurance quoting hub (QUILT)
for efficient communication with carriers, and customer
care (claims, renewals, policy services, etc.).
Insurance
carriers can subscribe to QUILT to offer independent
agents a pipeline to quote and rate policies instantly
-- real time! Carriers can subscribe to professional
services and an array of hosting solutions, such as
Campaign Management, Policy Management, Lead Data
Services and more from the insurance experts with
the technology background at InsuranceIsland.com.
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