Case Study: MIS Insurance Services achieves sub-2-minute quoting and 44%+ conversion with Instec

MIS Insurance Services - Customer Case Study

MIS Insurance Services, a BPO/BTO provider for carriers, program managers and managing general agents, needed an easy-to-use, web-based way to quote and bind workers’ compensation and general liability policies while maintaining continuous compliance across all states. To achieve this, MIS partnered with Instec to integrate rating and policy administration into its customizable FasQuote web application using ACORD XML and Instec’s web service and rating software.

MIS’s FasQuote collects applicant data, sends ACORD XML to the Instec web service, and receives calculated premiums back; when a prospect accepts a quote, FasQuote passes the data to the policy admin system to issue the policy. With Instec’s solution MIS now delivers an average quote time of two minutes or less, an overall quote-to-bind conversion ratio above 44% across states and classes, and a superior, compliance-aligned user experience.

MIS Insurance Services

Kris George

President