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1. The ratio of reinsured losses within a specified time to a ceding company's subject premium (written or earned). Used to review past reinsurance experience or to project the future. 2. Based on historical experience for a proposed reinsurance agreement, the premium needed to cover losses.
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Insurance Industry News from ProgramBusiness.comAMS 360 Version 3.0
AMS Services, a leader in insurance agency automation and ProgramBusiness Storefront owner, has announced the release of AMS 360® version 3.0.
AMS 360 is an advanced Internet-based agency management solution used by more than 28,000 users in over 2,100 agencies. The updated solution builds upon AMS Services’ extensive history of providing agencies with proven technology for higher productivity and revenue growth.
“In these unsure times, independent agencies are looking to increase productivity and reduce costs, while positively impacting customer satisfaction,” said Lisa Bukowitz, senior product manager, AMS 360. “In light of this, agencies are looking to reduce fixed costs, eliminate unnecessary spending, explore new revenue sources or markets and take extra steps to improve customer communications. The enhancements offered in the AMS 360 v3.0 release were conceived with these business optimization measures in mind.”
AMS 360 v3.0, which has been rolled out to 200 customers and 3,000 users this week, includes enhancements that enable agencies to drive better customer service, increase revenue per agent and improve their operational efficiency. With a superior user interface that reduces seven separate processing screens down to one AMS 360 v3.0 offers an industry-leading approach to information access. Highlights include:
Commercial lines enhancements—improved commercial lines workflows improve data access, simplify data entry and enable agents to more easily manage customer service processes. Servicing commercial lines policies becomes quick and easy so agency staff spends less time in the application and more time with customers.
Integration with the BenefitPoint management system—integration at the policy level means that customers can extend benefits services to existing customer and expand their business into the less volatile benefits market with a single, integrated solution set.
Import/export of data schedules—directly import data schedules into AMS 360 and automatically detect changes, identify errors or new information required and simplify the endorsement process. Reduce clerical errors, save time and provide superior customer service by offering a list to clients for easy audit at any time, but especially at renewal.
Large agency value—the AMS 360 web services application programming interface (WSAPI) is offered to provide a secure architecture to seamlessly access data directly from AMS 360 for import and export to other systems.
“AMS 360 v3.0, with features like the multi-faceted dec page view, will provide great gains in efficiency for our agency,” said Joyce Sigler, VP, administration, Jones & Wenner Insurance Agency, Inc. “A single click provides access to customer information without having to drill through multiple screens. Our support people will be able to quickly provide better customer service and our sales people will have an instant view of potential opportunities. The impact on our business will be significant.”
Built from the ground up specifically for the needs of independent insurance agencies, _AMS 360 helps agencies drive new business and ensure renewal business is managed effectively. Unmatched integration with Microsoft Outlook means producers can quickly develop mailing lists and submit proposals using a familiar business productivity tool. Improved renewal and cross-selling reports allow agents to easily identify opportunities, quickly review policies with customers, and ensure customers have the right degree of coverage for their needs. With AMS 360 v3.0, agencies can reinforce their value as a trusted insurance advisor.
Visit www.freeyouragency.com to see the latest product information on AMS 360, learn about additional customer success stories and schedule a meeting with an AMS Services representative.
For complete information on the products and services available from AMS, visit their storefront at www.programbusiness.com.
About AMS Services
Vertafore, Inc. d/b/a AMS Services is dedicated to helping independent insurance agencies achieve maximum performance and operational efficiency. The business offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in more than 15,000 agencies, as well as 600 carrier partners, AMS Services is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. Click for the whole story...