Networked Insurance Agents Joins the LexisNexis® Insurance Exchange
January 23, 2012 — Insurance Exchange Improves Communication for Brokers with Markets; Helps Carriers Communicate Risk Appetite at the Time of Submission
LexisNexis® Risk Solutions today announced that Networked Insurance Agents joined the LexisNexis® Insurance Exchange. Grass Valley, Calif.-based Networked Insurance Agents with approximately 1,200 member agencies joined the Insurance Exchange to help the organization manage and maximize its mid-market commercial business submissions to its carrier partners.
The LexisNexis Insurance Exchange is a business and renewal submission placement platform that enhances the flow of application data between insurance carriers, agents and brokers. Leading carriers and markets that have been using the Insurance Exchange for the past year have experienced significant advantage from the platform’s MarketFinder tool, which injects a market’s specific underwriting appetite into the Insurance Exchange workflows for the business agents are looking to place.
"We see the LexisNexis Insurance Exchange as an exciting new distribution channel through which we can help our members grow their businesses and better serve the insurance needs of their customers," said Rick Quagliaroli, CEO and President, Networked Insurance Agents. "We are excited to serve as a market within the Insurance Exchange, enabling our members to access preferred insurance carriers and opportunities that are typically only presented to large brokers."
"Networked Insurance Agents understands the value provided by the Insurance Exchange, offering efficient and secure processing and collaboration on one single platform," said Peter Lynch, president, LexisNexis Insurance Exchange. "We look forward to helping Networked Insurance Agents enhance the broker-carrier submission and communications, allowing members to grow their businesses and carriers to gain the business they want to write."
About LexisNexis Insurance Exchange
The LexisNexis® Insurance Exchange is a collaborative insurance placement platform designed to improve the flow of application data and documents between agents, brokers, wholesalers and carriers. By eliminating redundant and manual data entry, we help customers improve and streamline the insurance placement process creating a more efficient and productive environment. For more information, visit www.lexisnexis.com/insuranceexchange.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions (www.lexisnexis.com/risk/) is a leader in providing essential information that helps customers across all industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced scoring analytics, we provide products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk Solutions is part of Reed Elsevier, a leading publisher and information provider that serves customers in more than 100 countries with more than 30,000 employees worldwide.
About Networked Insurance Agents
Networked Insurance Agents (Networked) provides the small to medium sized Independent Insurance Agency access to a large number of preferred insurance products and services. Through access to these major markets, it allows each agency to own 100% of their business and retain their independence. Because of Networked's ability to produce substantial premiums with a number of preferred markets, it provides the Independent Insurance Agent Affiliate the clout that only the larger Regional Brokers enjoy.