DataMatters have a great deal of Internet experience and one of their first proposals was to EDI to insurers via the Net. Having a central system has allowed Coversure to develop an internal email facility. Franchise offices communicate freely to each other saving both telephone and mail costs. With just one system to develop, their quote engine can respond immediately to underwriters, allowing questions to be added and changed quickly. Coversure are now developing new styles of products because of this, including a lifestyle driven commercial vehicle package.
Insurers can access the Coversure system and view underwriting information in real time.
They can look at client profiles, compile statistical reports and check and amend their rates. Coversure feels that this interaction will lead to new styles of underwriting being developed far faster than conventional systems would allow.