The launch of a real-time commercial lines rater that gives agents access to a handful of large carriers was announced today by a division of Networked Insurance Agents.

MyNTrack, a division of Grass Valley, Calif.-based Networked, integrates with the technology of seven carriers through the use of cloud computing to produce single-entry, multi-line bindable quotes in more than 4,000 classes, according Paula Joudrey, vice president of MyNTrack.

MyNTrack allows licensed and insured agents online access for a $59 signup and a monthly fee of $39, according to the company, which launched the product without fanfare last week.

There is no commitment to length of membership, no minimum written business and agents are not required to be members of Networked, a wholesale aggregator that provides product to small- and mid-sized agents, according to Joudrey, who is also vice president of marketing for Networked.

MyNTrack is available in 45 states, not including the states of Alaska, California, Florida or Hawaii, which may be added later, according to Joudrey. She said technicians on both coasts split online chat duties so agents in all U.S. time zones can be assisted during business hours.

Right now MyNTrack has only three employees, but "we'll gear up and grow along with the business," Joudrey said.

There are no fees per transaction, nor other hidden fees, according to Joudrey.

According to Joudrey, MyNTrack keeps its rates low by relying on pre-existing technical and personnel infrastructure.

"We've leveraged our existing technology, so we don't have a huge nut to crack to recover," she said. "Our touch is very light. It's an inexpensive, online self-service model."

The insurance companies MyNTrack gives agents access to are: Sequoia Insurance, Liberty Mutual, CNA, Chartis, Hartford, Main Street America and Progressive Corp.

The lines it offers are standard preferred markets: business owner's policies, workers' compensation, business auto, general liability and umbrella.

And it's for predominantly small businesses, so depending on the risk, policies can go up to $40,000 or $50,000, Joudrey said, adding, "It is defined as a small business insurance play."

Commissions vary by line of business and by carrier.

For example, BOP policies earn 15 percent on both new and renewal business. For workers' comp, new policies are 10 percent and it's 7 percent for renewals. Business auto, general liability and umbrella are all 13 percent for new and 12 percent for renewals. Agent members of MyNTrack own 100 percent of their books.

The founders of MyNTrack think they are filling a need of smaller agencies.

"Anyone out there who has a similar offering would be competition, but frankly we're not seeing anybody out there who has an offering like this," Joudrey said. "I think it was a logical place to go with this. There was a need for a smaller agent who didn't need full-scale placement, and who would like to have access to markets at an affordable rate. It's pretty clear there was a market need."

The MyNTrack quoting tool produces quotes online in about eight minutes, according to the company.

More information can be found at MyNTrack.com.