Cutting-edge platform is part of company’s overall digital transformation initiative to accelerate the delivery of insurance quotes and binds for agent partners
Naperville, IL (March 26, 2021) – NSM Insurance Group, the nation’s leading specialty insurance provider, has deployed the Instec Policy system to quote, bind, issue and renew insurance policies for several of its specialty commercial insurance programs. As the leader in delivering more than 20 industry-specific insurance programs across a myriad of diverse industries, NSM is streamlining the quote submission process for its 10,000+ agent partners across the United States. The company has grown to more than $1 billion in annual premium with over 30,000 commercial clients through a combination of acquisitions and organic growth.
“We see Instec as more than just a technology provider. We view them as a strategic partner in our quest to establish a leadership position in the niche markets we serve,” said Prateek Sangal, Chief Commercial Lines Officer at NSM Insurance Group.
Nik Umrani, Global CIO at NSM Insurance Group added, “At NSM, we embrace strategic investments in technology and operations as a driving force to enable smarter business decisions and profitable business growth. Instec has proven itself as a robust platform for leading edge insurance programs with a bias for rapid implementation. That’s why we have added Instec as a key strategic platform within our systems portfolio.”
NSM initially deployed the Instec Policy in 2019 for its nonprofit and social services program and will implement the platform across several other programs as part of a larger digital transformation to provide a unified user experience for its agent partners, including its commercial towing and condo/real estate programs.
“NSM continues to pursue an aggressive growth plan and we’re a superb fit for a fast-moving and entrepreneurial company seeking greater control over their quoting process,” said Chuck Fillizola, President and Chief Revenue Officer at Instec. “Instec has a reputation for maintaining quality and accuracy in complex commercial products as they evolve — and we’re extremely honored in NSM’s confidence in our technology and capabilities to support their significant growth.”
Additionally, NSM and Instec are exploring integration opportunities in big data and advanced analytics and piloting new technologies coming out of Instec’s development labs to continue to automate the quoting system.
For more than 30 years, NSM Insurance Group has provided niche insurance programs and solutions that are truly unmatched in the market — delivering best-in-class policies that meet unique needs and position agent partners and their clients for long-term success. To learn more about NSM’s specialty insurance programs, visit www.nsminc.com.
Instec’s unique approach to insurance systems enables P&C carriers, MGAs, and MGUs to launch programs and specialty offerings from project start to first quote in as little as four weeks. With built-in bureau content and reusable business rules, Instec systems provide a platform for innovation with reduced risk. In addition, cloud-based deployment and subscription-based pricing enable insurers to test new programs at a low cost of entry and scale up affordably as the business grows. To learn more, visit instec-corp.com.
About NSM Insurance Group
NSM Insurance Group is the nation’s leading specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims management. The company has built more than $1 billion in premium across 20 specialty insurance programs and brands in the US and UK focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; transportation and towing; sports and fitness; professional liability for contractors, architects and engineers; habitational and E&S; staffing; and workers’ compensation. For more information on NSM, visit www.nsminc.com.