Specialty Program and Risk Transfer Alternatives (SPARTA) Insurance Company, a Hartford, CT start-up property and casualty insurer, tapped the Policy Decisions for Commercial Lines policy administration system from Insurity for a quick launch into the market.
“The system is a comprehensive solution that required only fine tuning and testing before implementation, which we were able to complete in six months,” said Enrico Ferrante, SPARTA senior vice president of business operations.
Sparta specializes in unbundled alternative risk transfer (ART) and specialty programs for the commercial property and casualty insurance market in the United States. Sparta’s program administrators use Web-based Policy Decisions for rate, quote, policy-issuance and administration activities.
Insurity, a ChoicePoint company, is a Microsoft partner and has multiyear strategic alliance with Microsoft through which the two firms have aligned future software development, including combining insurance products with Microsoft .NET and Windows Server System. The two firms also conduct joint marketing and sales activities globally.
Insurity considers speed-to-market one of its hallmarks. “One of our primary strengths is providing assistance for start-ups and for existing companies to quickly get into new markets,” said Dave Pedersen, Insurity senior vice president.
Ferrante said SPARTA’s customers and employees have found the system easy to use. “Customers see it as value added to their business, and that is the ultimate compliment,” he said.
The system’s data management has also been essential for tracking key performance indicators. "Policy Decisions captures all the data we need to analyze the performance of each program in real-time," according to Kevin Costello, Sparta president and COO.