It can be overwhelming trying to take policies from the Florida Citizens Depopulation Program. West Point Insurance Services has the solution! Our new software, InsurTakeout, has everything you need to easily collect and manage policies from Citizens. InsurTakeout is a plug and play system that mirrors the different Florida Citizens plan types, allowing you to modify rating factors and other features of the plan. Discover more information about the upcoming InsurTakeout software and welcome your new Florida Citizens Takeouts with ease!
What Is InsurTakeout?
This Florida Citizens Takeouts software serves to make life easier for those collecting policies from the Florida Citizens Depopulation Program. Using InsurTakeout, West Point Insurance Services will be able to set you up with your own system quickly and accurately. The system will cover the Florida Citizens rating algorithm and serve as a resource for any rating and underwriting questions and options. Dynamic and static forms will be available through InsurTakeout, including applications, declarations, invoices, and more. Any claims that are reported before the policy is issued are gathered and processed within InsurClaims. Additionally, the system will have the power to issue each policy on its respective issuance date. This software will serve as a useful tool for companies participating in the Florida Citizens Depopulation Program, so speak with our team if you have any questions!
Our Work With Florida Takeouts
Heritage Insurance chose West Point for their deep knowledge and proven track record within the Florida insurance market, local presence, and commitment to have Heritage up and running within 3 months. As planned, West Point successfully performed their initial Citizens Takeout of 41,731 homeowner policies from Florida’s state pool and all of their subsequent takeouts. Then we rolled out the new voluntary Homeowner line as scheduled.
As promised, Mount Beacon Insurance took over $50 Million in policies on schedule. The estimated savings on reinsurance alone was between $10 -$12 million to this new insurance carrier. In today’s market, that equates to approximately $200 – $300 per policy on a $1,000 policy.
Want to be among the first to benefit from our Florida Citizens Takeout software? Reach out to West Point Insurance Services to learn more about InsurTakeout as we work to bring it to market!