MDA announces strategic agreement with Vertafore in Insurance sector
Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA), a provider of essential information solutions, announced today that its US subsidiary Marshall & Swift / Boeckh (MSB), the leading provider of building cost data and estimating technology to US property insurance carriers, has entered into a strategic partnership agreement with Vertafore, a leading provider of software and information to insurance distribution channels.
For immediate release: March 25, 2010
Richmond, B.C. - MacDonald, Dettwiler and Associates Ltd. (TSX: MDA),
a provider of essential information solutions, announced today that its
US subsidiary Marshall & Swift / Boeckh (MSB), the leading provider
of building cost data and estimating technology to US property
insurance carriers, has entered into a strategic partnership agreement
with Vertafore, a leading provider of software and information to
insurance distribution channels.
Under the agreement, MSB will provide insurance agents who use
Vertafore’s PL Rating system with the ability to automatically pre-fill
the necessary data elements to request home insurance quotations from
multiple insurance carriers, using property data elements from MDA’s
vast property information warehouse, which covers more than 100 million
properties in the US.
Whereas previously agents had to re-key all of the data elements for
each individual request for quotation from each carrier, the combined
solution provided by MSB and Vertafore significantly reduces the number
of data elements that need to be entered manually, and also eliminates
the need to enter the same data time and again for each quotation. Once
the pre-filled quotation request is completed by the agent, a number of
electronic quotations are obtained simultaneously from the carriers
specified, and these quotes are then made available to the agent in
near real time, allowing the agent to respond to the home owner
applying for insurance much faster than before.
'This partnership is a great example of MSB’s commitment to
provide pragmatic information solutions that improve workflow
efficiencies in the home insurance process' said Salil Donde, CEO of
MSB.
'We’ve been partnering with MSB for many years, and this new agreement
adds tremendous value to our clients by enabling them to conduct a much
more seamless interview process with the homeowner; we’ve seen rapid
adoption of pre-fill data by our auto clients and we expect the same to
happen here,' said Dave Acker, vice president, rating and connectivity
at Vertafore.
About MDA
MDA
provides advanced information solutions that capture and process vast
amounts of data, produce essential information, and improve the
decision making and operational performance of business and government
organizations worldwide.
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of information solutions, ranging from
complex operational systems, to tailored information services, to
electronic information products.
The Company's common shares trade on the Toronto Stock Exchange under the symbol TSX:MDA.
About Vertafore
Vertafore is the leading
provider of software and information to the insurance distribution
channel including independent agents, brokers, MGAs, carriers and
reinsurers. Vertafore leverages a unique industry presence to deliver
meaningful solutions – powerful technology, critical information and
robust insights to help organizations effectively respond to business
challenges and capture new opportunities. Vertafore solutions have
helped more than 17,000 customers and 500,000 users gain a competitive
advantage to accelerate their business performance. For more
information about Vertafore, please visit www.vertafore.com.
Related Websites:
www.mdacorporation.com
www.vertafore.com
Forward-Looking Statements:
This release contains forward-looking statements and information, which
reflect the current view of MacDonald, Dettwiler and Associates Ltd.
('MDA') with respect to future events and financial performance. The
forward-looking statements in this regard include statements regarding
the entering into of a strategic partnership agreement. Any such
forward-looking statements are based on MDA’s current expectations,
estimates, projections and assumptions in light of its experience and
its perception of historical trends. The factors and assumptions
underlying the forward-looking statements in this release include the
strategic partnership agreement not being terminated. Any such
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
current expectations. MDA cautions readers that should certain risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary significantly from those expected.
The risks that could cause actual results to differ from current
expectations include inherent risks in the information products market,
including general economic, regulations and competitor changes; changes
in government priorities, funding levels, contracts and regulations;
susceptibility of customers in property transaction-related industries;
and failure to anticipate changes in technology, technical standards
and product offerings or comply with the requisite standards.
For additional information with respect to certain of these
risks or factors, plus additional risks or factors, reference should be
made to MDA’s continuous disclosure materials filed from time to time
with Canadian securities regulatory authorities, which are available
online at www.sedar.com or on MDA’s website at www.mdacorporation.com.
The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.
For more information, please contact:
Wendy Keyzer
MDA External Relations
Telephone: 604-231-2743
E-mail: wendy@mdacorporation.com


