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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 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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