Using Dovetail's Program in a Box(sm) Services Offering for Their Internet Business Model, NetComp's Workers Compensation Program Launched in Just 75 Days
COLUMBIA, S.C., Sept. 7 /PRNewswire/ -- Dovetail Insurance Corporation, an insurance industry services provider, announced today that they have launched a new workers compensation insurance program for NetComp in only 75 days using the latest advances in technology to make it possible. The program required an internet portal for the agents, a processing system implementation to support policy issuance and maintenance and staffing for the entire back office. This program was the perfect fit for Dovetail's new Program in a Box(sm) service offering.
NetComp contracted with Dovetail because they saw a niche in the insurance market that they wanted to take advantage of and Dovetail had the insurance knowledge and operational ability to make that happen for them very quickly.
The Program in a Box(sm) toolset, including the Duck Creek Policy Administration™ system, provides a base that offers unsurpassed flexibility and is designed to expedite the implementation process. This foundation incorporates an internet based system that provides a link between the portal and processing system for storing data used in predefined, industry specific workflows and referrals and subsequently creates a data repository for management reporting. Using this approach NetComp was in production and generating premium in just weeks.
John F. Seibert, President and CEO of NetComp, stated, "Dovetail's Program in a Box(sm) services offering is a perfect fit for NetComp. Our goal is to deliver a product to independent agents that is fast and takes the complexity out of the process of underwriting, rating and issuing a policy. Dovetail's solution makes that possible."
Steve Francis, President and CEO of Dovetail Insurance, stated, "Dovetail is uniquely positioned to launch insurance companies and programs using our innovative proprietary technologies. One of our primary goals as a service provider is to change the way that companies enter new markets or launch new products by leveraging the latest in technological advances, incorporating insurance processes and industry specific factors to deliver solutions much quicker and more cost effectively than has been done historically while improving quality."
"Our partnership with Dovetail enables them to offer their outsourcing customers a well engineered, modern technology solution, which gives carriers like NetComp the ability to move quickly when they see an opportunity in the marketplace," commented Steve Hall, Duck Creek's President and CEO.
About Dovetail Insurance Corporation
Dovetail Insurance Corporation was formed in November, 2006 by FirstMark Capital and is a privately held insurance services company headquartered in Columbia, S.C. Dovetail Managing General Agency Corporation, a wholly-owned subsidiary of Dovetail Insurance Corporation, is a licensed insurance agency authorized to produce property and casualty insurance policies for licensed insurers in forty-eight states and is capable of performing all policy related functions from distribution to claims management. Dovetail's capabilities include Insurance Program Development and Administration, back office services for policy administration and deployment of carrier designed programs using fully functional advanced technologies that offer quick, seamless and cost effective deployment. Dovetail's business model allows insurance companies to innovate and then implement their plans of entering into new markets without delay or major financial investments upfront. For more information go to our website at www.dovetailinsurance.com.
About Duck Creek Technologies®
Duck Creek Technologies, Inc. is a provider of innovative software and services to the insurance industry, providing next-generation policy administration, product configuration and definition, billing and rating for the Property & Casualty and Healthcare insurance markets. Duck Creek™ is dedicated to enabling customers to develop insurance products and to sell and service those products in their chosen markets with unprecedented speed to market, flexibility, reach and quality. Founded in 2000, Duck Creek is headquartered in Bolivar, Missouri, and has multiple offices within the United States and its subsidiary, Duck Creek Technologies Europe Ltd, has an office in the UK. For more information, visit www.duckcreektech.com or call 866-382-5832.
NetComp Insurance Corp., headquartered in Columbia, S.C., is a privately held company recently formed to use state of the art technology to write workers compensation Insurance via the internet. NetComp designed and manages a mono-line workers compensation program which targets small to mid-sized workers compensation insurance risks.
Distribution is via the internet to independent agents versus direct to the insured. The program will be available to all authorized agents in approved states.
SOURCE Dovetail Insurance Corporation