NSM Insurance Selects ValueMomentum’s BizDynamics (now OwlSurance) Digital Platform, iFoundry Rating Engine (now OwlSurance Rating Engine)

A program manager with niche needs, NSM Insurance Group went live on the solution with its Pet Insurance program in under six months, with others to follow.

(Image credit: Adobe Stock.)

NSM Insurance Group (NSM), a Conshohocken, Pa.-based program administrator, has selected ValueMomentum’s (Piscataway, N.J.) BizDynamics Digital Engagement Platform and the iFoundry Rating & Product Design solutions to enable the MGA to transform how it distributes, underwrites and services customers for their many niche specialized programs and to expand into new markets. Pet Insurance was the first program to go live on the solution, with more to follow in 2018, according to a vendor statement.

Geof McKernan, CEO, NSM.

The challenges NSM addressed through the system selection included disparate systems for each of its programs, many of which are legacy desktop applications. The multiplicity of the systems reduces workforce productivity and fails to deliver insight into production data, according to the statement. NSM selected the ValueMomentum’s BizDynamics Digital Engagement Platform and iFoundry Rating Engine with support for ISO Electronic Rating Content (ISO ERC).to provide a common platform for all programs. The resulting platform has been christened NSMOne by NSM CIO Mike Anselmo.

ValueMomentum reports that the first program to benefit from this solution was NSM’s new program for pets—4Paws Insurance—which went live with ValueMomentum’s solutions in less than six months. Targeted at consumers and available online on any device, the quoting and policy issuance process is completed is under two minutes, the vendor says.

“A key aspect of our growth plans is executing efficiently,” comments Geof McKernan, CEO, NSM. “While we are laser-focused on profitable and sustainable products for niche industries, we are pleased that we have established a partnership with ValueMomentum to focus on the software and technology that will help us achieve our growth aspirations.”

Mike Anselmo, CIO, NSM.

“We selected ValueMomentum’s solutions to build upon our current technology investments, improve the productivity of our workforce, and our agency partners, by having them access a single system to perform their work, while affording us the ability to rapidly set up new programs, some of which are based on ISO, and some, proprietary,” comments NSM’s Anselmo.

Importance of Digital Engagement

“NSM recognizes the importance of digital engagement with customers, agents, and employees combined with product innovation, as levers to realize their goals for market expansion and competitiveness,” comments Abhijeet Jhaveri, CMO, ValueMomentum. “We are excited to partner with the NSM team in their transformation journey.”

Frederick Mutual Boosts Modernization Initiative with ValueMomentum’s cloud business unit, OwlSurance Technologies.

ValueMomentum offerings selected by Frederick Mutual include BizDynamics (now OwlSurance) Digital Solution and iFoundry Rating Engine (now OwlSurance Rating Engine), which automates OwlSurance Verisk ISO Electronic Rating Content (ERC).

Frederick Mutual Insurance Company (Frederick, Md.) has deployed ValueMomentum (Piscataway, N.J.) solutions, including the ISO Electronic Rating Content (ERC) Businessowners Program, as part of the insurer’s transformation initiative, which includes new products and expansion into new markets, according to a ValueMomentum statement.

(Image source: Frederic Mutual homepage.)


Nancy Newmister, President and CEO, Frederick Mutual Insurance Company.

ValueMomentum offerings selected by Frederick Mutual include BizDynamics Digital Solution and iFoundry Rating Engine, which automates ISO Electronic Rating Content (ERC), allowing Frederick Mutual to launch and maintain rating for its lines of business, the vendor says.

Billing itself as a “174-year-old start-up”—the company was founded in 1843—Frederick Mutual plans to use ValueMomentum solutions to transform its operation from a regional mutual insurance provider to a modern organization able to easily and aggressively expand within its current geographic markets and into additional markets with new personal and commercial lines product offerings.

“Providing our agents with competitive products is an important step in our transformation,” comments Nancy Newmister, president and CEO, Frederick Mutual Insurance Company. “Working with ValueMomentum and ISO affords us the ability to quickly adjust to changing market conditions and new opportunities.”

Benefits that Frederick Mutual anticipates from the implementation of ValueMomentum solutions, including the following, by the vendor’s description:

  • Speed-to-market for new products, including those specifically designed to appeal to all generations and the upcoming millennial workforce;
  • A more robust portal to support an omni-channel environment that includes agents, customers, and employees;
  • Agility to quickly adjust to changing market conditions and new opportunities, and
  • Easy and efficient maintenance of ISO rating information, including ISO loss costs, rules, and forms.

    Mark Sheehan, assistant VP, ISO Rating Solutions.

“The initiative seemed more challenging than anticipated considering the various technologies we were integrating our software with,” comments Swarup Ghosh, chief delivery & services officer, ValueMomentum. “While, that’s a known phenomenon with technology implementations, I am proud of the collaboration between our organizations to cross this important milestone. We look forward to building on the trust Nancy has laid on ValueMomentum as we continue onto delivering new products and an omni-channel experience to agents, customers and employees.”

“We’re pleased that Frederick Mutual is working with ValueMomentum, an important ISO ERC vendor-partner,” comments Mark Sheehan, VP, ISO Rating Solutions. “We look forward to collaborating with ValueMomentum and helping Frederick Mutual pursue its plans to grow and expand into new markets.”