Digital Experience Insurance Rating

VGM Insurance Services Launches A New Property Line on the BizDynamics Digital Engagement Platform

VGM Insurance Services leveraged ValueMomentum’s custom BizDynamics Digital Engagement Platform to launch a new property line. With 80% of the underwriting labor automated within the platform, the stage is set for VGM’s future expansion.

Business Need

VGM Insurance Services wanted to offer its members property coverage in addition to its existing product lines. They took the expansion as an opportunity to pilot a new platform that would facilitate future growth.

“ValueMomentum delivered on their promises and took care of our needs quickly and efficiently throughout the process. It’s clear they are invested in our success, ensuring the final product was nothing short of exceptional.”

Ron Green, VP of Underwriting

Tools and Technology

VGM selected ValueMomentum’s cloud-based BizDynamics platform for rating and new business. ConceptOne was implemented for the policy administration system, with APIs connecting to HazardHub to collect property risk data for underwriting.

Success Factors

The company notes that the built-in integration with ISO ERC in theBizDynamics platform was key to speedily deploying the product. They also cited the ValueMomentum team’s demonstrated investment in the project as a reliable and collaborative partner.

Impact

VGM Insurance Services now offers property liability to its members through a modern platform that reduces underwriters’ manual account work by 80%. Moreover, the new platform will serve as a foundation for continued expansion into other admitted and non-admitted lines.