NIF Group Selects Instec Policy System to Capture New Program Business
Instec, the market leader in insurance software for commercial program and specialty writers, announced today that NIF Group (NIF), has selected the Instec Policy system to launch a new program with a national carrier partner.
NIF Group has built a reputation as a program administrator with expertise in specialty and niche exposures. The company has an exclusive, national program for the non-profit social service industry. In addition, NIF offers programs for public entities, artisan contractors, bowling centers, and specialty homeowners.
Late in 2018, NIF partnered with one of the premier program carriers in the country and one of their longtime broker partners with extensive contractor and landscaper expertise to launch a new program for professional landscapers, a market they collectively identified as underserved.
NIF turned to Instec for their policy management system, since both they and their carrier partner had prior experience with Instec. From past projects, Instec already had the carrier’s rates, rules, and forms in its extensive content library. It made for a very quick and efficient solution.
“We needed to move fast on this program,” said David Daniels, President and COO of NIF’s California division. “Our carrier and broker partners wanted to go after the opportunity before others moved in to fill the gap. Instec was a natural choice because of their reputation for short project cycles.”
NIF’s familiarity with the policy management system and Instec’s carrier content provide for a quick start and a shortened project timeline. The implementation kicked off in early December 2018 and the system was in production by early February 2019. Because of NIF’s familiarity with the system, very little training was required.
NIF is wholly-owned by JenCap Holdings LLC. The offering will be sold through an affinity marketing agreement in conjunction with an agency partnership with the National Association of Landscape Professionals (NALP).
“We are excited about the prospects for this new program,” said Randy Paez, CTO at JenCap Holdings. “This is one more example of JenCap and NIF capitalizing on its management team, sector knowledge, and reputation in programs to expand its portfolio. Selecting a partner like Instec to bring the program to market will help us accelerate that process.”
JenCap Holdings is a premier national specialty insurance distribution platform that includes program management businesses, managing general agencies, specialty program underwriters and transactional wholesale brokers. JenCap Holdings has assembled a management team with the sector insight and experience to drive organic growth and strategic acquisitions leveraging technology and advanced data analytics. JenCap Holdings is headquartered in New York.
Instec’s unique approach to systems for the insurance industry enables P&C carriers, MGAs and MGUs to launch programs and specialty offerings from start to first quote in as little as four weeks. With built-in bureau content and reusable business rules, Instec systems provide a platform for innovation with reduced risk. In addition, cloud-based deployment and subscription-based pricing enable insurers to test new programs at a low cost of entry and scale up affordably as the business grows. To learn more, visit instec-corp.com.