Vertafore Expands Comparative Rating System Into Florida Property Market

Vertafore, a provider of insurance technology, has added several new homeowner carriers to their flagship comparative rating system PL Rating, expanding the company’s reach into the Florida property market.

Since its acquisition of QQSolutions, a Florida-based agency management system and rating company, Vertafore said it has seen “overwhelming demand” to provide the service to current Vertafore and QQTM clients in the state.

“Improving access to the difficult Florida property market will allow our customers a better experience writing and servicing their clients,” said Mark Malis, president of QQSolutions. “While the first step is to offer this functionality in PL Rating, we’ll be embedding the property workflow and Florida markets directly into the QQCatalyst system to make it even easier for our agencies to get access to this crucial information.”

Vertafore and PL Rating currently have over 10,000 agencies that leverage the rating program in 48 states and the District of Columbia. PL Rating also currently has over 150 carriers in production for auto and homeowner’s rates nationwide.

PL Rating integrates with prefill and automated Insurance to Value (ITV) products from CoreLogic, as well as state Public Protection Classification (PPCTM) from ISO, which are key components to the homeowner’s platform. Vertafore has also added the capability to do an automatic, integrated flood quote at the same time as homeowners by partnering with AON National Flood Services (NFS), a provider of WYO flood processing for many of the nation’s carriers.

A sampling of the recent Florida homeowner carriers that have signed up and will be available by Q3 on the PL Rating platform include: Tower Hill Insurance Group, Sawgrass Mutual, Cypress, Modern USA/American Traditions and Stillwater Insurance Group among others. Vertafore expects to have the majority of carriers writing homeowners in the state available by the end of the year. Carriers can contact the company if they are interested in joining the platform.

Topics Florida Property Homeowners