Indiana Farm Bureau Insurance, an Indianapolis-based auto, life, home, business and farm insurer, has implemented Policy Processor, a new business processing and underwriting system from PlanetSoft (Aliso Viejo, Calif.).
The Policy Processor system will automate the intake and processing of new business application, according to a PlanetSoft press release. It's expected that the implementation will help the carrier reduce the time it takes to process cases from over two days to just a few minutes. In addition, the carrier hopes to improve service for their producers and to handle higher volumes.
"We are very pleased to see the PlanetSoft solution now working in our environment, fully integrated with other packaged systems and third-party vendors," Indiana Farm Bureau Insurance system development manager Joe Murphy said in the release. "The PlanetSoft Integration Hub (i-Hub) is the foundation for the next phase of our project, the electronic application. We will then have straight through processing, which is the key objective of the project."