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Palomar Specialty Moves to Cloud-based Platform

The insurer plans to improve underwriting and speed to market for its customers in earthquake-exposed states.

Palomar Specialty Insurance Company has announced plans to launch a cloud-based Atlas hosted platform from P&C IT solution provider PCMS. The solution will allow customers with few options to buy earthquake insurance without running into IT problems.

[ More movements to the cloud: The General Moves Claims to the Cloud. ]

Atlas will handle claims management and reporting, business intelligence, underwriting, policy administration, rating and billing for Palomar Specialty. It will provide data analytics and qualitative underwriting in real time, reduce operational costs and boost speed to market for unique product sets. Palomar Specialty will use Atlas to grow its business in earthquake-prone areas.

“After an extensive search, we selected PCMS because of their modern, all-in-one comprehensive system, upfront and inclusive pricing model and proven track record of successful and quick implementations,” says Mac Armstrong, founder and CEO at Palomar Specialty, in a statement. “Atlas’ agile and flexible platform will allow us to be responsive to market needs, especially those of our distribution partners, while providing a platform for growth as we expand.”

[Moving to the cloud is not done overnight. Where is your insurance company when it comes to migrating to the cloud? Learn how one enterprise is making the shift. Attend the An Enterprise Journey to Hybrid Cloud session at Interop 2014 in Las Vegas, March 31-April 4.
You can also REGISTER FOR INTEROP HERE.]

Kelly Sheridan is an associate editor for Insurance & Technology. Prior to joining InformationWeek Financial Services, she was a staff writer for InformationWeek and InformationWeek Education. Kelly has also written for trade publication Promo Marketing and a number of ... View Full Bio

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