Thomco Selects, Implements INSTEC Policy Rating, Administration System

Commercial P/C insurance software provider, INSTEC, announced an agreement with Thompson Insurance Enterprises, Inc. (THOMCO) for the implementation of a 50-state commercial Package and Automobile policy rating and administration solution.

The comprehensive, bureau-based solution is in production, with customizations for THOMCO-specific requirements, within 45 days after contract. THOMCO has also licensed INSTEC’s Integration Extensions to integrate the INSTEC QuickSolver® policy software with a myriad of other THOMCO systems, including their agency management, document management, carrier, and claims TPA systems. The Integration Extensions also enable the automated import of existing policy data.

According to THOMCO’s president, Greg Thompson, “THOMCO chose INSTEC because they offered a bureau based solution on a modern, scalable platform. Because of the flexibility of the platform, we will be able to seamlessly integrate INSTEC with our other software and eventually be able to take producer-completed applications and load them directly into the rating engine. THOMCO (www.thomcoins.com) plans to use INSTEC for four major national insurance programs for Assisted Living, Daycare Centers, Mental Health and Developmentally Disabled Facilities which are all written with A-rated carriers.”

INSTEC (www.instec-corp.com) solutions support multi-state bureau and client-specific policy processing for all states and all major Commercial lines of business. INSTEC’s state-of-the-art software can be customized to match unique filings, coupled with various optional maintenance services including complete bureau regulatory updates. As a .NET based component, INSTEC’s QuickSolver® applications can be easily integrated within an insurance provider’s technical environment.