Convelo Insurance Group Selects ValueMomentum iFoundry Rating Engine

PISCATAWAY, N.J., Oct. 9, 2017 /PRNewswire/ -- ValueMomentum Inc., a provider of software and services to the insurance, healthcare and financial services industries, announced today that Convelo Insurance Group (Convelo) has selected ValueMomentum's iFoundry Rating Engine along with BizDynamics for enabling rating & quoting for commercial lines. Convelo's E&S rating requirements are based on ISO lines and will leverage ISO Electronic Rating Content™ (ERC). Convelo is a new and exciting Managing General Agent (MGA) start-up, which began operations mid-2017.

Convelo is starting with Contractors General Liability for their initial Commercial Lines release. From there, they will quickly roll-out Transportation/Inland Marine, Property, Commercial Package; Personal Lines Home Owners, Auto, Personal Package, Flood, and other specialized programs that meets the needs of their customers, brokers, and agents. Product and Program innovation which aligns to the objectives of their carriers, coupled with the capabilities of the technical platform, will enable Convelo to swiftly be recognized as a serious differentiator.

"We are to provide a zero to low touch speed to market digital customer experience," explains Salvatore V. Abano, EVP & CIO of Convelo.  "We are rapidly executing against our plan to establish systems, distribution and establish partnerships with more carriers. Our entire business model is about the way we connect electronically to our various methods of conventional and non-conventional distribution channels. We found ValueMomentum's solution as a good fit to rapidly roll out new products and support our digital technology strategy by leveraging their rating software along with ISO Electronic Rating Content™."

"Convelo recognizes the importance of digital technology as a lever to achieve its business goals," said Abhijeet Jhaveri, chief marketing officer of ValueMomentum. "We are excited to partner with Convelo in their journey." 

About ValueMomentum

ValueMomentum provides software and services to Insurance, Healthcare & Financial Services firms. Customers choose ValueMomentum due to the company's track record of delivering value and driving the momentum of customers' business initiatives. ValueMomentum accomplishes this by applying a time-tested formula of combining strong technology expertise with deep industry experience. For more information, visit www.valuemomentum.com.

SOURCE ValueMomentum, Inc.

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