Mike Fagan, President of Operations, Instec

Today, the cloud is more secure, more economical, and more scalable than most corporate data centers, especially platforms like Microsoft Azure which employs state-of-the-art security and recovery practices.

NAPERVILLE, Ill. (PRWEB)
February 04, 2020

Instec, the market leader in software for insurance programs and complex commercial insurance, announced today that the company surpassed $1 billion in premium under management on the company’s systems.

Instec was an early adopter of cloud technology as a deployment option for its flagship policy administration software. In 2016, the company began offering Instec Policy (formerly Quicksolver) in the cloud. Today, only nine of the company’s customers run the software on premises, and six of those will migrate to the cloud this year. (Instec estimates these customers represent as much as $2 billion more in premium running on its systems.)

“We’ve come a long way from the days when clients were skeptical about moving their business to the cloud,” said Mike Fagan, President of Operations at Instec. “Today, the cloud is more secure, more economical, and more scalable than most corporate data centers, because cloud platforms all feature state-of-the-art deployment, security and recovery practices.”

Since the launch of its cloud offering four years ago, Instec has seen growth on its systems accelerate. In 2019 alone, the company’s customers added $310 million in premium.

“A good portion of our growth over the past years has come from programs, especially with an increasing number of MGAs wanting to own their systems,” said Fagan. “More recently, we’ve seen another market segment attracted to Instec for many of the same things program writers’ value – fast implementations, managed bureau content, and low entry cost. We call it ‘Complex Commercial’. It’s multi-line, multi-state, with multiple distribution and bureau content adoption approaches. We expect more growth from both segments in 2020, as they add new lines, new programs, and new premium to our system.”

About Instec

Instec’s unique approach to insurance systems enables P&C carriers, MGAs and MGUs to migrate, launch, or expand programs and complex commercial offerings from start to first quote in as little as four weeks. With built-in bureau content and reusable business rules, Instec systems provide a platform for innovation with reduced risk. In addition, cloud-based deployment and subscription-based pricing enable insurers to get started at a low cost of entry and scale up affordably as the business grows. To learn more, visit instec-corp.com.

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“Online car insurance quotes will help drivers find the best insurance deal possible. All they have to do is to provide accurate info about the car and the driving history”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

LOS ANGELES (PRWEB)
February 04, 2020

Drivers that compare free car insurance quotes should check all the available coverage deals in their areas. Policyholders can find the best insurance deal just by visiting a single brokerage website.

Drivers that want cheap car insurance should consider the following:

• 
  Different car insurance companies have their own rules regarding clients’ ratings and costs. Some insurance companies will use price optimization to slowly increase the premiums paid by their customers. This means, that an offer that was considered the best several years ago, will no longer be so advantageous compared with offers made today by other insurance companies.
• Online insurance quotes will help drivers find better deals. Drivers only need to obtain several car insurance quotes and compare them. Every policyholder can easily find affordable coverage if he reviews several online car insurance quotes. Drivers are recommended to check the insurance market every six months.
• Use brokerage websites. After completing the online questionnaire with correct and accurate info, the insurance offers will be displayed in several minutes. The main advantage of brokerage websites is the fact that it allows its users to obtain multiple quotes from multiple insurance companies. This will allow drivers to quickly find a policy that suits them.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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Booke’s professional education programs, combined with Sovos software solutions, promise to be a powerful driver in alleviating the burden of compliance on insurance companies operating in the U.S.

BOSTON (PRWEB)
February 04, 2020

Global tax software provider Sovos today announced it has acquired Booke Seminars, which provides critically important educational seminars to employees of insurance companies and the Internal Revenue Service (IRS) on topics across property, casualty, life and health insurance sectors. The Booke acquisition also adds software for federal income tax (FIT) filing and compliance to Sovos solutions. The acquisition follows the 2019 Sovos purchase of Eagle Technology Management (ETM), which added high-volume statutory reporting and unclaimed property compliance to the breadth of Sovos technology and services. With today’s announcement, Sovos solidifies its position as a leading provider of statutory reporting solutions and educational services for U.S.-based insurers.

U.S. law requires insurance companies to submit a series of statutory reports and state compliance, municipal tax and premium tax forms to 50-plus state and territory insurance departments, as well as the National Association of Insurance Commissioners (NAIC). These complex filings are unique to each jurisdiction, and regulations change annually. Booke’s customers include many of the nation’s largest insurers and the Internal Revenue Service (IRS), who rely on Booke’s comprehensive educational seminars and webinars to help them stay up to date in today’s dynamic regulatory landscape. In 2018, for example, Booke held almost 200 seminars and webinars, serving nearly 4,500 attendees.

“Insurers must stay educated on myriad requirements in order to remain compliant, and they stand to gain significant operational efficiency and risk mitigation through technology and process automation,” said Andy Hovancik, CEO, Sovos. “That’s why Booke’s professional education programs, combined with Sovos software solutions, promise to be a powerful driver in alleviating the burden of compliance on insurance companies operating in the U.S.”

Paul Banker, vice president and general manager of the Tax and Regulatory Reporting line of business at Sovos, said, “From seminars to self-study guides to handbooks, Booke has helped individuals and companies increase industry knowledge for more than 50 years. Together with our previous acquisition of ETM, this acquisition enables Sovos to solve the full spectrum of tax and regulatory compliance challenges for the vast majority of the U.S. insurance market.”

“Sovos continues to expand both organically and through acquisition around the world,” said John Gledhill, vice president of corporate development for Sovos. “As our first acquisition of 2020, Booke marks an opportunity to fully meet the statutory reporting needs of the insurance industry, a market we’ve long served as the largest private filer of IRS tax information forms.”

Booke was previously owned by Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions. The terms of the deal were not disclosed. Sovos is owned by Hg, the London-based specialist private equity investor focused on software and service businesses. EY served as financial advisor to Sovos, and Morris, Manning & Martin provided legal counsel.

About Sovos

Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern tax. As governments and businesses go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud combines world-class regulatory analysis with its secure, scalable and reliable S1 cloud software platform to create a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.

About Booke

Headquartered in Winston-Salem, North Carolina, Booke has helped individuals and companies increase industry knowledge and experience in insurance statutory reporting, U.S. GAAP, and IFRS accounting and reporting since 1968. The company was acquired in 1993 by Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions.

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“Insurance companies will analyze multiple factors before granting coverage. Some of these factors can be improved by drivers in order to obtain lower insurance rates”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

LOS ANGELES (PRWEB)
February 04, 2020

To determine the insurance rates paid by their customers, the car insurance companies will analyze multiple factors before granting the coverage. The factors that influence car insurance costs the most are the following:

• 
  The vehicle that is to be insured. Insurance companies will be interested in the car make, model, year of production, safety devices, and other car-related info. With this data, the insurers will find out the price and the number of claims made by that particular model. Models that have a high number of claims or are expensive will cost more to insure.
• Driving history. Drivers that manage to maintain a clean driving record for a certain number of years will be granted a premium reduction by their insurance companies. On the other hand, drivers that have many felonies in their records will be labeled as high-risk and will have to pay more on their insurance premiums.
• Where the car is kept. Vehicles that are parked on the road have higher chances to be stolen or damaged by vandals. For this reason, drivers that keep their cars parked on the road will pay higher insurance rates. Policyholders who keep their cars parked in a garage will pay lower insurance rates. Cars that are parked in a garage are rarely stolen and they are protected from vandals and the effects of severe weather.
• Installed safety devices. The insurance companies will reward those drivers that want to make their cars safer. To do that, drivers can install collision warning systems, rearview cameras, GPS tracking systems, emergency braking systems, cruise control and so on. But before installing any of these devices, drivers should ensure they are approved by their insurers.
• Living area. Drivers that live in high crime areas where cars are frequently stolen or vandalized will pay more on their insurance compared to those that live in areas where cars are not frequently vandalized or stolen.

For additional info, money-saving tips and free car insurance quotes, visit http://compare-autoinsurance.org

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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“To get the best car insurance deals possible, drivers should compare multiple online quotes before deciding to purchase an insurance policy”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

LOS ANGELES (PRWEB)
February 04, 2020

Compare-autoinsurance.org has launched a new blog post that explains how drivers should compare multiple online car insurance quotes.

For more info and free quotes, please visit: https://compare-autoinsurance.org/how-to-compare-multiple-car-insurance-quotes-online/

With the help of the internet, obtaining car insurance quotes is very easy. Going from one insurance agency to another in order to obtain insurance quotes to compare is no longer required.

Drivers that want to obtain better insurance deals should follow the next tips when they are comparing multiple online quotes:

• 
  Compare the same policies. Drivers that choose to compare multiple quotes from different websites, should ensure they are choosing the same coverage levels, same limits and the same options.
• Input the same info on all quotes. Usually, the online forms will ask data about the car make, model, year of production, installed safety devices and other car-related info. Besides that, the questionnaires will also ask personal data about the driver and his driving record.
• Provide an accurate mileage estimate. Many online questionnaires will ask drivers how many miles they are driving with their cars. Policyholders that drive fewer miles than a certain limit will be rewarded with a discount. Drivers can lie about their mileage in order to obtain this discount, but they will still have to face their insurers.
• Be honest with the driving history. Don’t try to hide negative aspects like traffic fines, at-fault accidents, or even drunk driving. Even though these aspects will increase the price of car insurance, lying about them is pointless as most insurance companies will do their own research before granting coverage to someone.
• Look for discounts. Most insurance companies will provide numerous discounts to their customers. Drivers should do a little research and see for what discounts they are eligible. Some of the most popular discounts are the loyalty discount, bundled policies discount, installed safety devices discount, good student discount, and good driver discount.
• Compare multiple online quotes. To get a better idea of how their car insurance plan might look like, drivers should consider comparing multiple car insurance online quotes. It is recommended to compare at least three quotes before deciding to purchase an insurance policy.

For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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