Argo Group International Holdings, Ltd. (NYSE: ARGO), an international underwriter of specialty insurance and reinsurance, has adopted insurtech that enables MGAs, wholesalers and independent brokers to submit, quote and bind risks seamlessly, without paper or error.
Argo has deployed AVYST’s bi-directional forms system, eForms Wizard, making it possible for clients and brokers to enter risk details just once, at the source, for automatic processing by Argo. Use of the system will eliminate the numerous paper-based steps of conventional point-of-sale processes, which will reduce re-keying mistakes and drive efficiencies for clients.
“AVYST eForms Wizard dramatically simplifies retail distribution to make delivery of our products smooth and simple,” said Gary Grose, group producer management and marketing leader and president of Colony Specialty, member of Argo Group. “This kind of delivery will especially benefit independent brokers and larger networks that have traditionally grappled with time-consuming and inefficient manual workflows for every risk submitted. It also allows Argo to gather large volumes of data effortlessly, which fuels our risk analysis and exposure management.”
In 2017, a group of insurance industry veterans and investors launched AVYST’s eForms Wizard. It replaces paper-based processes while enabling users to retain flexibility. In a short time, the insurtech firm has forged strong relationships with MGAs, carriers, the National Association of Professional Insurance Agents and others.
“Brokers and agents have long been able to submit risks to Argo through multiple channels across the company’s business lines,” commented Marc Still, CEO of AVYST. “Our software is designed to integrate with other solutions to streamline the submission process, eliminating unnecessary touch points. Producers simply enter information once, the data is shared across the necessary forms and applications, and the submission is securely submitted, delivering rapid turnaround for their clients.”
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ABOUT ARGO GROUP INTERNATIONAL HOLDINGS, LTD.
Argo Group International Holdings, Ltd. (NYSE: ARGO) is an international underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo Group offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group’s insurance subsidiaries are A.M. Best-rated ‘A’ (Excellent) (third highest rating out of 16 rating classifications) with a stable outlook, and Argo Group’s U.S. insurance subsidiaries are Standard and Poor’s-rated ‘A-‘ (Strong) with a positive outlook. More information on Argo Group and its subsidiaries is available at www.argolimited.com.
Wave Insurance Technologies Inc., dba AVYST, is a Dallas, Texas, and Aurora, Colorado-based company providing sales and risk management solutions to efficiently manage an account throughout the application and submissions process. The initial product, eForms Wizard, eliminates the numerous manual and paper-based steps in marketing and point-of-sale processes for agents, carriers, MGAs and wholesalers. For insurance professionals seeking to eliminate inefficient workflows, AVYST technology seeks to connect all industry stakeholders — including agents, brokers, carriers, MGAs, wholesalers, user groups, and other technology firms — by seamlessly and securely sharing data. The AVYST team comprises entrepreneurs, insurance experts and technology advocates who for years have campaigned to improve the experience for the insurance professional and consumer. For more information, visit www.avyst.com.
For media inquiries, please contact:
Argo Group International Holdings, Ltd.
Tel +1 210 366 5613
Tel +1 804 837 4590