Happy New Year! Looking back on 2013, I am very proud of the TurboRater team and all we have been able to accomplish. More importantly though, I want to extend my thanks to our agents and partners. We appreciate your business and the opportunity to serve you. So with the year coming to a close and we prepare for 2014, I would like to take a quick look back at some of the major enhancements we added to TurboRater in 2013.
More than 110 new companies Adding new carriers to TurboRater is one of our top priorities. This year alone we added more than 110 carriers to TurboRater. See a complete list of the carriers available on TurboRater.
We expanded on TurboRater's already extensive report capabilities by adding advanced performance reports. With these advanced business analytics, agency owners can effectively and easily monitor key performance indicators, including the following:
- Closing Ratio Reports. These reports are not restricted to monitoring the closing ratios of the agency's producers. They also include current and historical data on closing ratio by location, the carriers the agency represents, lead sources and the agency overall.
- Data Quality Reports. These reports verify your producers are gathering the necessary information for agencies to effective manage and close their sales. They also help agency administrators and managers easily monitor data entry trends that can lead to identifying if producers are not properly entering information on the quote.
- Limit Analysis - These reports analyze the liability limits quoted by producer and identify potential errors and omission trends.
Mobile and tablet friendly interface
TurboRater is a completely web-based system, which means agents can access it from any Internet-connected device. To improve the ease of use on mobile devices, TurboRater instantly recognizes if it is displayed on a tablet or mobile phone and automatically adjusts the size of the entry fields in order to be more finger friendly. This supports agents need to be mobile so they can service today's demanding customers.
New permission features for agencies with multiple locations or franchises
We added additional permission features for Location Managers to improve the functionality for our multi-location and franchise agencies. Agencies that have the need to restrict managers to only selected locations can do so. This is a particularly attractive feature for agency franchises where there are multiple owners involved, but each owner should not have access to other owners quoting activities. The franchise owner is still able to effectively manage all of their franchisees.
Motor vehicle record integration
Recognizing the desire for agents to quote the right premium for the risk, we added integration with the nation's two leading providers of motor vehicle reports (MVRs): Softech International and American Driving Record (ADR). With the click of a button, MVRs detail a history of violations, suspensions and other pertinent information about a driver's driving history. This ensures the agent is getting the right premium for the risk, therefore decreasing their loss ratio while increasing their bottom line.
Speed and performance enhancements
TurboRater's speed is unmatched. Our average time to provide quotes from multiple insurance companies is less than 7 seconds. Throughout the year we optimized our rating engines and interface to ensure you continually have the best experience using TurboRater.
Released earlier in the year, TurboRater now has the ability for MGAs and aggregators to manage their sub-agents who do not have binding authority. Sub-agents simply quote their risks in TurboRater, and then the MGA/aggregator can manage those submissions as needed. This solution is sold as a separate product.
Auto and motorcycle rating in California
In September, we announced our expansion of TurboRater into California. With this expansion, we were able to give independent agents in California a choice in comparative raters.
Home rating in Kentucky, Missouri, New Mexico, Ohio, and Virginia
Built on the same superior technology as our auto comparative rater, we added home rating to Kentucky, Missouri, New Mexico, Ohio and Virginia. See a complete list of the states where TurboRater is available.
Prefill driver and vehicle data in Texas
At a very nominal cost, agents can significantly decrease the time it takes to complete a quote with the prefill driver and vehicle data. By simply entering the named insured's driver's license number and date of birth, agents can immediately populate the quote with information on all drivers and vehicles in the household. No longer do you need to wait until the insured locates driver's license numbers for family members or VIN numbers for all of their vehicles. NOTE: This feature is currently only available in Texas at this time.
About the AuthorMore Content by AnMarie Bozick, CIC