Hallmark Financial Services, Inc. Selects ClarionDoor’s Insured Rating
ClarionDoor, Inc. (ClarionDoor), a cloud-based rating provider for insurance companies, managing general agencies (MGAs), and insurance organizations across all lines of business globally, is pleased to announce Hallmark Financial Services (Hallmark), a publicly-traded holding company focusing on personal, commercial and specialty lines, has selected Insured Rating to automate several lines of business for the company’s underwriters and MGAs.
ClarionDoor’s Insured Rating is a feature-rich, flexible, rating solution which has been developed from the ground up to operate, perform, and scale exclusively in the cloud. The modern technology platform on which Insured Rating is built provides all the tools and services necessary for rating any line of business, algorithm, or transaction type. Under the terms of the agreement, Hallmark and ClarionDoor will work together to implement Insured Rating specifically for general liability, commercial property, and inland marine lines of business for Hallmark’s excess & surplus (E&S) lines-focused, contract binding operating unit, Hallmark Specialty Underwriters.
“By partnering with ClarionDoor it allows us to deliver a modern, user friendly, web-based rating solution to our MGAs and underwriters in a matter of months,” said Don Meyer, president of Hallmark Specialty Underwriters, Inc. “The platform also allows Hallmark to have more control over the rating, underwriting, and reporting process for our commercial lines products.”
Upon successful implementation, Hallmark’s new rating solution will offer the ability to rate, quote, and bind, as well an efficient method of supporting the renewal process. Additionally, the web service feature will allow Hallmark to offer direct access to rates by MGAs and third-party comparative rating vendors.
Another key component of the agreement includes the development of a policy forms service that will display a list of required and optional forms on the Hallmark quote letter. This feature also provides the ability to view the actual policy form by simply on the clicking on the hyperlink in the quote letter.
“This selection is largely based on Hallmark’s confidence in ClarionDoor’s ability to provide fully-automated rating complemented by a number of time-saving features,” says Patrick McCall, chief sales officer at ClarionDoor. “In working with the Hallmark representatives throughout the sales process, we jointly developed several new features which will enable their agents and underwriting teams to provide quality service and a more efficient process for delivering insurance quotes.”