36 Writing States:
Primary Lines / 13 Additional States for Flood and Excess Flood
Alabama, Arizona, California, Florida, Georgia, Illinois, Michigan, Missouri, New York, Tennessee, Texas, and Virginia.
Personal Auto • Commercial Auto • Dwelling Fire Excess Flood • General Liability • Motorcycle • Travel Trailer Aviation • Commercial Package • E&O • Farm • Homeowner Primary Flood • Watercraft — Boat/RV
Volaris Group is an International provider of market leading software and services. Volaris Group acquires, strengthens and grows vertical market technology companies enabling them to become clear leaders in their segments. Silvervine is the flagship company within the insurance vertical.
Constellation Software Inc. Is an International provider of market leading software and services with more than 6000 employees worldwide and 40,000+ customers across 45 countries.
Company after company has been adopting chatbot technology. Why? It’s the future of customer experience. AI-powered chatbots make it easy for customers to get immediate answers and a customized experience using messaging apps, which are eclipsing social media sites in terms of…Full Story
Autonomous cars are slated to bring down the number of accidents and injuries on the road – and it's easy to suppose they'll reduce claims costs, too. Not so fast. There's a bump in the road, and its name is severity.
"A new report has analysed the impact of driverless cars on…Full Story
The idea of flying cars has been around for decades, but only recently has the discussion gotten serious. Several companies have announced plans for flying cars. As with autonomous vehicles, the questions that arise are less about technology and more about concerns regarding…Full Story
Last year, Oracle found that eight in 10 businesses are either using artificial intelligence currently, or plan to start using it within three years or better. The task? Customer service. There are two main approaches to using AI in this area: in the first, front-end bots chat with…Full Story
Over the last decade, technology has made a real splash in commercial auto insurance. So, what's new? For insurers who want to win the business of tech-savvy customers, there's a message in the trends. An annual survey of insurance execs conducted by Guy Carpenter and Co. found…Full Story
Mom always said you're supposed to share. But sharing doesn't come without consequence – and in the insurance industry, the implications of the sharing economy are getting bigger all the time.
The sharing economy is growing
Last December, NAIC said that "nearly one-fifth of…Full Story
Smart homes are getting smarter. Equipped with voice control, they can follow spoken directions. With connected fridges, they can make suggestions about dinner. With smart utilities, they can optimize both comfort and efficiency. Soon, they may recognize their homeowners by their…Full Story
A few years ago, 2020 seemed a long way out. That was the year that many manufacturers earmarked for their self-driving car rollouts. Now that 2020 is just three years away, some carmakers are kicking the can to 2021. They’ve learned that it's one thing to make the cars, and…Full Story
Last month, Carrier Management said that some insurers expect to spend more on insurance technology in 2017. But at 37 percent, they're in the minority. They're also running below a multi-industry average. While 45 percent of other businesses plan to spend more on IT this year,…Full Story
The need for information security (infosec) is nothing new. But the game is changing in 2017. As the IIA.org blog reports, “As the IoT leads to more connections between people and machines, cyber dependency will increase, raising the odds of a cyber-attack with potential…Full Story
Well, they've done it. Majesco just traced the history of insurance from Hammurabi's Code up to the present day in two paragraphs flat. We're talking about the 2016 Majesco Report, of course. And the history they acknowledge isn't insignificant. If there's one thing that's always…Full Story
Auto insurers take note: driving is up, and safety is down. The two trends go hand in hand: you can't get in a crash if you're not on the road to begin with. But as people log more miles, the opportunity for collisions increases too. And boy, have people been logging more miles.
The FedNat Insured Web is a great tool for our insureds!
They like having a centralized location to view policy info, make payments, upload policy documents, and elect to become paperless to receive a discount.
The insureds also can file a First Notice of Loss for a claim and access exiting claim info. Silvervine recently enhanced the site which allows insureds to upload policy documents directly to their policy. The uploaded docs go directly into our workflows and save a lot of manual effort on our part.
From my visits with agents, the agents appreciate the app for the amount of time saved on having to download and attach photos directly to the policy.
The app can also reduce the amount of staff required for a busy office to fulfill underwriting requests for photos.
When training agents they are amazed at how quickly the photos attach directly to the policy. After taking photos using the app and before they make it back to their desk, the photo is already attached to the policy. They also like the ability to attach additional photos for pre-existing damage.
Customer Service is seeing an improvement with retention as the text message definitely triggers phone calls from insureds to make payments.
The insureds love the fact that we notify them on their phones because they state that sometimes they don’t receive their mail for various reasons.
The insureds are paying more attention to the texts then to their actual mail. We try to set all of our customers up on that option if we notice that they are not currently enrolled, as it builds great customer relations as well as retention.
As a company we have adopted the use of Policy Scan for all our policies, and our agents have adopted the use of the app as well.
Not only is it easy to use, there is also no more worrying about losing photos, having to store photos or photos being attached to the wrong policy.
With Policy Scan we have increased efficiency in our workflow and reduced our exposure on the risk.
Silvervine’s core administration solutions easily handles multiple carriers within multiple states, including accounting, payment processing, immediate policy issuance and endorsements.
What started out writing one product, one line in one state has now grown into mulitple products, multiple lines and writing in multiple states. We have over $95 million in annualized premium in-force and we expect to grow by 20% during the next year all serviced by Silvervine.
Silvervine was our insurance software system of choice when we started the company in 2006. Silvervine enabled us to begin business within a few months of licensing the company. Today, we are one of the top 20 homeowner’s writers in Texas and SIlvervine’s solutions have been an integral part of our success.