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Summit Releases Its New Online Risk Eligibility Tool

18 Dec, 2008 WorkersCompensation.com

                               
LAKELAND, Fla., Dec 17, 2008 /PRNewswire/ -- Summit, a leading provider of workers' compensation insurance services in the southeastern United States, announces the release of its web-based WriteNow(R) Risk Eligibility Tool, a complementary new feature to the company's WriteNow Online Quoting Service.

The WriteNow Risk Eligibility Tool allows insurance agency staff to determine account eligibility for Summit's workers' comp programs -- and to view specific information related to a business's risk category. Information that normally requires time-consuming research is presented in a unique, easy- to-use format. Details, such as prior coverage requirements, minimum premium, current rates, and preinspection requirements, are readily available and categorized by state and Summit-managed carrier.

"This is far more than just simple convenience," according to Lynn Houser, Summit's vice president of underwriting. "It represents a new level of transparency in the underwriting process. Our agency partners now see what our underwriters see, and this gives them the information they need to make informed choices on behalf of their clients."

The WriteNow Risk Eligibility Tool also gives users the ability to review the North American Industry Classification System (NAICS) codes that may apply to their clients. Because Summit now uses NAICS codes as well as the traditional class code system to analyze potential risks, accounts are evaluated on a more highly specialized level, potentially broadening qualifying business under this new underwriting system.

Summit anticipates that this new tool will further build on the success of its WriteNow Online Quoting Service. Currently, an average of 78 percent of Summit's submissions are received online via WriteNow, and agencies receive instant underwriting decisions for nearly half of them. For accounts with less than $5,000 in premium, the number of instant decisions increases to more than 80 percent.

To access WriteNow and the Risk Eligibility Tool, agency users must have a username and password for Summit's Online Business Center. Interested agencies should visit the company's website, www.summitholdings.com.

Summit provides workers' compensation products and services to more than 40,000 businesses in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. Summit, which includes Summit Consulting Inc. and its subsidiaries, is based in Lakeland, Fla., and has offices in Baton Rouge, La., and Gainesville, Ga. It is part of Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group which consists of property and casualty, and specialty insurance carriers that distribute their products and services primarily through independent agents and brokers.

Liberty Mutual Group ranks 94 on the Fortune 500 list of the largest U.S. corporations based on 2007 revenues. The company has financial strength ratings of A (Excellent) from the A.M. Best Company, A2 (Good) from Moody's Investors Service, and A- (Strong) from Standard & Poor's.

SOURCE Summit Consulting Inc.

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