ITC Releases Binding Online with TurboRater for Websites
Insurance Technologies Corporation (ITC), a leading provider of marketing, rating and management software and services, announced today the release of instant binding online technology to TurboRater for Websites, its online consumer portal, with Dairyland Auto.
Carrollton, Texas – Wednesday, March 26, 2014 – Insurance Technologies Corporation (ITC), a leading provider of marketing, rating and management software and services, announced today the release of instant binding online technology to TurboRater for Websites, its online consumer portal, with Dairyland Auto.
When added to an independent insurance agent’s website, TurboRater for Websites provides multiple auto insurance quotes to online insurance shoppers. The instant binding online technology then gives those consumers the option to purchase a Dairyland policy directly from the agent’s website. TurboRater for Websites has built-in underwriting rules to ensure the risk is acceptable, and coverage is appropriately secured. Coverage begins right after the policy is purchased, and proof of insurance is immediately provided to the consumer. The agent is notified of the new policy and has instant access to the quote and policy information in his or her TurboRater account or the Dairyland agent portal.
“According to the 2013 comScore Auto Insurance Online report, 83% of online insurance shoppers get more than one quote, which makes this unique online binding technology important to agents who want to demonstrate on their websites why consumers should choose independent over captive” said AnMarie Bozick, CIC, comparative rating product manager at ITC. “We closely follow consumer trends so we can identify when technology like online binding is critical for independent agents to succeed. We believe this technology will give independent agents an advantage over direct writers as it will allow consumers to get quotes from multiple insurance companies and purchase policies online at their convenience from one website.”
Created using ITC’s expertise and knowledge from being the nation’s largest provider of insurance agency websites, TurboRater for Websites adapts to a finger-friendly format when viewed on mobile devices and has a user-friendly interface to maximize conversion rates. The online consumer portal is offered in multiple languages, including English and Spanish.
“ITC is really setting itself up to be a great tool for independent insurance agents to elevate their success in the coming years,” said Richard Learey, senior marketing manager at Dairyland Auto. “Their focus and determination affirm our decision to partner with the ITC team to create this exciting bind online product for agents and consumers.”
If a consumer requests a quote from TurboRater for Websites and does not choose at that time to purchase the policy, ITC’s automated agency marketing system AgencyBuzz starts a follow up email campaign designed to help the agent close the sale. Agents who use this follow up process from AgencyBuzz report a 27% increase in closing ratios and a 7% cumulative increase in client retention.
ITC is actively working to add more insurance carriers to the bind online feature of TurboRater for Websites.
About ITC
Insurance Technologies Corporation (ITC), founded in 1983, is a leading provider of agency marketing, rating and management software and services to the insurance industry, including independent agents and insurance carriers, for more than 30 years. Headquartered in Carrollton, Texas, ITC helps its customers across the United States grow their businesses and become more efficient through the philosophy of providing quality software and services that automates the client lifecycle. Currently, ITC serves more than 200 insurance companies and more than 6,000 agencies. For more information, visit us online at GetITC.com.