MFX Announces a Policy Solution That Leverages P&C Carrier Assets

Onsite MediaContact:
Jessica Roy

MFX

973-254-5342

IASA Booth Number: 126

2014 IASA Press Submission

MFX Announces a Policy Solution that Leverages P&C Carrier Assets

A new cost-effective, on-demand policy administration solution is focused on the specialty lines and excess markets, delivered through our secure virtual private cloud.

Integrates with carriers customized rating/pricing Excel workbooks, provides full support for rate, quote, bind and issue along with forms management.

All data is available for use with the carriers target systems including, but not limited to, booking, general ledger, billing and reinsurance.

‘We understand that rating workbooks created in Excel are the backbone of many carriers systems, and those intellectual properties are what distinguishes them in the marketplace. However, there have always been difficulties getting that information into the corporate systems,said Mr. Raymond A. Roy, Chairman and CEO of MFX.We recognize that this is an asset of key importance to insurers, yet using it often results in duplicate data entry, inadequate version and change control, and a lack of good governance and auditing. Additionally, compliance and data analytics have been more challenging to achieve.

We have long solved this problem within our end-to-end Integrated Insurance Platform,Mr. Roy continued,and are now offering our policy solution as a separate additional service. We welcome the opportunity to demonstrate our capability to carriers by integrating one of their existing Excel workbooks, risk-free.

Company Name: MFX

About MFX: About MFX

Helping you meet your goals and needs is our culture and focus. Founded in 2001 and a wholly owned subsidiary of Fairfax Financial Holdings LTD, MFX combines the deep industry and technology experience of its employees with our culture of agility and business model flexibility to service all of our valued clients.

MFX has two fundamental businesses:

MFX is a seasoned provider of customized datacenter and infrastructure services including private cloud offerings, across all industries.

MFX provides end-to-end commercial property and casualty insurance application and BPO solutions to the P&C industry.

Headquartered in Morristown, NJ, with additional locations in Toronto, ON, Dallas, TX, Ireland and India, MFX has two world-class datacenters in Ridgefield Park, NJ and Roanoke, VA.

PR Contact Name: Diane Phillips
Mobile Number: 973-254-5402
Email Address:

Onsite MediaContact:
Jessica Roy

MFX

IASA Booth Number: 126

2014 IASA Press Submission

MFX Announces New MGA-TPA Data Transformation Service

MFX has announced a new low cost, no risk, turnkey, professional service offering using tools and processes that MFX has developed for its Integrated Insurance Platform (IIP).

Using our private cloud, this innovative offering quickly imports MGA and TPA claim and policy data, validates the data with company-specific rules, and exports it into a targeted format used by the companys operational systems.

New MGAs and TPAs can be brought on quickly, transactional integrity is ensured, and rekeying errors are eliminated.

Pricing consists of a one-time setup fee and a charge per upload.

‘Virtually every P&C carrier in the industry is faced with ingesting variable data from its TPAs and MGAs into home office administration system(s) a time-consuming, iterative process, fraught with errors and frustration both for the carrier and their TPA and MGA partners. The goal of making it easier to do business with MGAs and TPAs is high on every carriers list,said Mr. Raymond A. Roy, Chairman and CEO of MFX.

Mr. Roy went on to say,Our solution, long a hallmark of our Integrated Insurance Platform, is now being offered as a low-cost, risk-free, standalone, turnkey professional service. Were extremely confident of its potential to save time and expense for any insurance carrier, and to that end, we can offer companies a zero-cost proof of concept.â€