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.
