"Brokers have made it clear that there needs to be a more efficient way for them to work with carriers. They rely on us to provide the information they need to effectively manage their business," says OBPI President Paul Romano. "We intend to roll out FirstBest UMS across OBPI during the next two years, in order to streamline the underwriting process, better accommodate brokers' timeframes and deadlines by making it easier for them to directly access and collaborate with our experts, and help both brokers and OBPI achieve measured, profitable business growth."
[For more on OneBeacon: Scott McClintock Joins OneBeacon as CIO.]
FirstBest UMS is designed underwriting faster and more accurate, captures the knowledge of experienced underwriters, helps maintain best practices, and enforces rules across the enterprise, accordion to the vendor. The underwriting management system develops what FirstBest characterizes as highly accurate risk profiles based on risk data, modeling tools, third-party data and best practices, so that underwriters can focus on analyzing the risk and delivering answers to their brokers in an accelerated timeframe. It helps carriers deploy products faster to keep up with market shifts and customer demand, leveraging a complete transactional agent/broker portal that facilitates new business and renewals, the vendor asserts.
"We believe FirstBest's technology will facilitate consistent, quality underwriting across OBPI," comments Scott McClintock, CIO, OneBeacon Insurance Group. "Instead of navigating through multiple systems to view and analyze risk data, our underwriters can leverage the solution as a single point of reference, enabling them to spend more time on analysis and work more closely—and efficiently—with our brokers."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio