NEW YORK & NAPERVILLE, Ill.--(BUSINESS WIRE)--Generali US Branch® (“Generali”), the US operations of Assicurazioni Generali S.p.A., a global insurance provider, and Instec®, a provider of P&C insurance platforms, announced today that Generali has successfully migrated its Commercial Auto and Liability lines of business to Instec’s Quicksolver Cloud™ policy administration platform running on Microsoft’s Windows Azure cloud platform.
Generali is investing heavily in cloud technology for core systems as part of its overall strategy to modernize its operational systems. In addition to modernization, the Generali cloud strategy was also developed to avoid the significant outages and system downtime the company experienced with both 9/11 and Hurricane Sandy. By moving its core policy administration platform to Windows Azure, Generali now has a more dependable operating environment with improved system uptime as well as immediate access to data backups.
“Generali has been working with Instec for nearly a decade beginning with our selection of Quicksolver. We initially chose Quicksolver in large part due to its extensive bureau content capabilities, as well as the low total cost of ownership,” said Mauricio Caneda, CIO for Generali. “Migrating to Instec’s cloud technology platform, and Windows Azure specifically, is a core tenet of our strategic growth plan.”
“The insurance industry is beginning to deploy core systems such as policy administration, claims, and billing in the cloud. Generali’s successful implementation is evidence that insurers are finding a great deal of value in this approach, which we believe will increase dramatically in use over the next few years,” said Kevin Mason, Vice President of Product Development and Maintenance with Instec. “The combination of Quicksolver and the Windows Azure cloud platform has enabled us to deliver an offering that provides Generali a highly reliable environment that emphasizes our core value propositions of faster time to market, lower total cost of ownership, and reduced risk of implementation.”
“By deploying Quicksolver Cloud in Windows Azure, carriers such as Generali can now take advantage of the cloud’s economics, scalability, and reliability. The cost savings and efficiencies insurers are realizing in the cloud are an incredible competitive edge—it’s a game changer,” said Tony Jacob, Managing Director for Worldwide Insurance, Microsoft. “We also see many other insurance carriers now looking at the cloud to provide a path to modernization in core systems, risk and analytics, agent desktops, etc., where traditional approaches may have been ruled out based on costs, timelines, and risk.”
Microsoft’s Windows Azure is a highly scalable cloud platform that is open and flexible, allowing companies to develop, implement, and distribute applications. As a development platform, Windows Azure gives Instec the power to utilize platform as a service for its flagship Quicksolver technology.
Instec’s Quicksolver is a complete P&C insurance rating and policy administration system that supports multi-state, multi-location, bureau and client-specific policy processing for all 50 states and all major commercial lines of business. Instec’s software delivers scalability, cost control, and speed of delivery to carriers and MGAs in the commercial market.
About Generali US Branch
Established in 1952, Generali U.S. Branch is the U.S. Representative office of Assicurazione Generali, S.p.A. whose head office is located in Trieste, Italy. Generali U.S. Branch provides a wide range of insurance products and services and works closely with companies within the Generali Group and their multinational clients. For more information, visit www.generaliusb.com.
Instec, founded in 1982, is a leading provider of services and technology to the commercial property and casualty insurance industry. Noted for long-term client relationships, Instec is a partner in providing business expertise and creating profitable growth. As providers of full policy lifecycle management, Instec works with its clients on successful Program Business as well as streamlining operations from first quote to last endorsement. Instec’s flagship technology, Quicksolver, is a best-of- breed rating and policy administration solution supporting all major lines of business, in all 50 states, and with native bureau rates, rules forms and statistical content. As a Microsoft Gold Certified Partner, Instec delivers strategic solutions that enable clients to drive competitive advantages in rating, issuing, and reporting in order to lower costs and maximize profitability. With more than three decades of experience, Instec is a trusted partner with deep industry knowledge, innovation and insight. To learn more, visit www.instec-corp.com.