NOBLTM
Insurance Premium Accounting & Financial Solvency Management
(Fact Sheet)
NOBL was developed to respond to a pressing need of P&C independent agencies to comply with trust account fiduciary laws. Failure to comply exposes agencies to a loss of business license and/or legal prosecution for theft (CA insurance Code, Sections 1733 & 1734). NOBL is the “missing link” of insurance agency automation. While not competing with any of the current agency management systems, such as: AMS or Applied Systems, this product can be easily integrated with them so that insurance agency business can be fully automated.
NOBL trust accounting is fiduciary accounting. Its unique logic is different from that of business accounting and so are the trust financial solvency management objectives. NOBL is smart technology, a disrupter intended to innovate the brokerage industry’s current management paradigm. A significant advantage for both the producing agencies and insurance companies will follow as agencies will be able to focus solely on sales and service, their core business.
NOBL proof of concept has been fully vetted in a real production environment for more than three years. NOBL comprises more than 125 programs coded to generate virtual accounting records from the premium database’s physical data records. NOBL is currently hosted in the cloud. NOBL is currently patent pending.
NOBL is offered for acquisition to a company having the credentials and ability to service the P&C brokerage industry and bring it in compliance with fiduciary laws.
NOBL has outstanding business potential. Since producing agencies undertake the trust accounting effort primarily for the benefit of insurance companies, it is conceivable the latter will agree to compensate the former for this effort by adding a technology fee to the current policy fee. In this way, a free of charge trust accounting service will foster the producing agencies’ business to unprecedented performance levels.
