Argo boosts efficiency with new system
Bermudian-based Argo Group International Holdings Ltd has adopted a new system that enables managing general agencies, wholesalers and independent brokers to submit, quote and bind risks seamlessly, without paper or error.
Avyst's bidirectional forms system, eForms Wizard, makes it possible for clients and brokers to enter risk details just once, at the source, for automatic processing by Argo, the insurer said.
The system will eliminate numerous paper-based steps of conventional point-of-sale processes, which will reduce re-keying mistakes and drive efficiencies for clients, Argo added.
Gary Grose, group producer management and marketing leader and president of Colony Specialty, a member of Argo Group, said: “This kind of delivery will especially benefit independent brokers and larger networks that have traditionally grappled with time-consuming and inefficient manual workflows for every risk submitted.
“It also allows Argo to gather large volumes of data effortlessly, which fuels our risk analysis and exposure management.”
In 2017, a group of insurance industry veterans and investors launched Avyst's eForms Wizard. It replaces paper-based processes while enabling users to retain flexibility. In a short time, the insurtech firm has forged strong relationships with MGAs, carriers, the National Association of Professional Insurance Agents and others.
Marc Still, CEO of Avyst, said: “Brokers and agents have long been able to submit risks to Argo through multiple channels across the company's business lines.
“Our software is designed to integrate with other solutions to streamline the submission process, eliminating unnecessary touch points.
“Producers simply enter information once, the data is shared across the necessary forms and applications, and the submission is securely submitted, delivering rapid turnaround for their clients.”