The BindEasy Ecosystem for Insurance

The unique nature of ITS technology allows Insurers or Syndicates to consolidate all of their MGA business on to one single technology platform quickly and with very low cost. While a single technology platform, BindEasy Ecosystem’s unique security model ensures that each MGA’s data is absolutely separated from any other’s. The entire data set is only visible from the insurer or syndicate that runs the BindEasy Ecosystem.

The benefits of implementing a BindEasy Ecosystem include:

  • BindEasy Features

    Have all of your MGAs get the same great features that are within BindEasy in a “Ecosystem” implementation. Bring a competitive advantage to your MGAs as you would bring a competitive advantage to yourselves.

  • Consolidate Reporting

    Gain the benefits of consolidating reporting and gain consistency among all of your MGAs. Imagine monthly reports that roll up all of your MGA business in Real Time. You can get your bordereaux the day after the last day of each month in a format that you choose.

  • Enhance Governance

    • Provide the highest level of security to all of your MGAs and policy holders
    • Your rates and rules are based in Data, time-stamped and tightly version controlled
    • You can determine how much control you want over the business that is written through your MGAs
    • Consolidated reporting means that you have access and the ability to know total insured values geographically through all of your MGAs
    • New claims can be tracked and data can be centralized and kept in a paperless environment
  • Attract New MGAs

    Having new MGA’s onboard with an Automated Underwriting System with all of the features of BindEasy is a huge benefit to them.

  • Save

    • Through consolidated reporting, automated underwriting, paperless policy issuance, and the list goes on, the financial savings potential is huge.
    • Your MGA’s will also see substantial savings as our MGA client’s do now.
      • BindEasy will dramatically lower an MGA’s overall cost of doing business by:
        • Reducing underwriting cost and time
        • Allow instantaneous paperless policy issuance
        • Increasing hit ratio (conversely lowering the effort on business that doesn’t fit)
    • The inherent cost savings in a BindEasy Ecosystem will make your business with MGAs far more competitive
  • Grow

    With a BindEasy Ecosytem you will never have to worry about scalability. A BindEasy Ecosystem can handle extremely large transaction volumes and can continually be scaled up as you grow your business.

  • How Much?

    The cost of implementing and maintaining your own BindEasy Ecosystem is much less than you would ever imagine. Because ITS gains the benefits of implementing over a group, we can pass those savings on to you. As well, none of this has to be “developed” as BindEasy is a proven, reliable and secure platform with only the requirement to put your PDT (product definition templates) that hold your rates, rules, application, wordings.

    Signing up brokers, on-boarding MGAs is not as difficult as it would be without an established technology platform like BindEasy.