FirstBest Partners with INSTEC to Combine Underwriting Management, Rating Engine Expertise; Insurance Software Companies Deliver Next-Generation Underwriting
To combat soft market pressures in commercial P&C insurance, technology partners FirstBest and INSTEC will explore opportunities to develop innovative underwriting solutions that leverage INSTEC's award-winning rating engine and FirstBest's advanced UMS™, an underwriting management system that enables carriers to profit from better underwriting.
Lexington, MA, and Naperville, IL (PRWEB) April 15, 2008 -- FirstBest Systems® Inc., provider of advanced Underwriting Management Systems™ (UMS) that enable commercial insurance carriers to profit from better underwriting, and Insurance Information Technologies, Inc. (INSTEC), the Naperville, IL-based experts in commercial lines rating and policy administration solutions, have announced a strategic alliance to deliver comprehensive underwriting solutions for property and casualty (P&C) insurance carriers.
As technology partners, FirstBest and INSTEC will explore opportunities to develop innovative underwriting solutions that leverage INSTEC's award-winning rating engine and FirstBest's advanced UMS™, an underwriting management system that delivers advanced underwriting automation with real-time agent/underwriter collaboration; enhanced underwriting discipline and consistency; integration with predictive analytics; and greater visibility into the book of business and underwriting processes.
"This partnership is aimed at developing comprehensive underwriting solutions that are optimized for the P&C industry," said INSTEC CEO Ray Simon. "FirstBest shares our commitment to consistently deliver underwriting solutions to best meet our customers' business challenges. By aligning our expertise and experience in the insurance industry, we will help carriers achieve a strategic advantage through next-generation solutions based on best practices and industry standards."
According to John Belizaire, CEO of FirstBest Systems, "We are excited about our partnership with INSTEC, a pioneer in rating and policy issuance solutions. With INSTEC's world-class rating engine and our Underwriting Management System, P&C carriers can foster closer collaboration with agents, better price policies, increase profitability, and achieve greater business speed and agility."
To find out more about the FirstBest Technology Partner program, please contact Tony Rosati, Director of Business Development, FirstBest Systems, at 781-863-6000 or partners@firstbest.com.
About FirstBest Systems
Founded in 2006, FirstBest Systems®, Inc. delivers advanced Underwriting Management Systems™ (UMS) that enable commercial insurance carriers to profit from better underwriting. The FirstBest UMS™ is an insurance software solution that automates the entire underwriting process for P&C carriers, enabling them to write more business and write better business. Insurers can scale their underwriting profitably while achieving greater speed and business agility; foster real-time collaboration to make it easy for agents to do business with carriers; promote enhanced underwriting discipline and consistency; and empower management with greater visibility into underwriting processes. For more information, please visit www.firstbest.com or call 1.888.863.6095.
About INSTEC
Founded in 1982, INSTEC is an employee-owned company that provides carriers and MGAs with comprehensive "best-of-breed" rating and policy issuance software designed for the dynamic nature of commercial lines. As a Microsoft Gold Certified Partner, INSTEC continues to demonstrate its expertise in Microsoft technologies and commitment to deliver insurance software solutions that meet the high standards expected from software products developed for Microsoft platforms, including .NET. The company is based in Naperville, IL. More information is available at www.instec-corp.com.
Press contacts:
Meira Primes
Vice President of Marketing
FirstBest Systems
781.863.6005
primes@firstbest.com
Pat Walsh
Vice President of Sales and Marketing
INSTEC
630.799.6325
pwalsh@instec-corp.com
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