Dean O'Hare To Chair Software Firm
NU Online News Service, Sept. 29, 12:05 a.m. EDT?Dean R. O'Hare, former chief executive officer of The Chubb Corp., has been elected chairman for SeaPass Solutions, the developer of a system permitting interactive data transmission for insurance carriers, agents, brokers and wholesalers.[@@]
Mr. O'Hare said he joined the New York-based firm "convinced that SeaPass has created a solution to what I thought for decades to be the most critical problem the insurance industry faces?real time connectivity and communications."
He said that a contact from Warren, N.J. ?based Chubb, which he retired from in 2002, had recommended SeaPass to him, knowing of his interest in the problem of agency-carrier interface.
When SeaPass described their system, "I said, ?If you can do what you say- it's the greatest thing since sliced bread,'" Mr. O'Hare related. In a soft market, firms that adopt the system should have an additional selling point, he added.
Mr. O'Hare, who has more than 40 years experience in the insurance industry, said that he had struggled for years with the connectivity issue and had thought it was impossible to resolve.
"Yet from a single technology platform, the SeaPass solution literally enables easy, error-free data exchange and interaction among agents, carriers, brokers and wholesalers to get quotes and bind coverage in seconds.
"This solution is so critical to the future of the industry that I have given SeaPass my full support to help them succeed where existing systems currently have not," he continued.
SeaPass President of U.S. Operations Eric Gewirtzman said the company felt fortunate to have a "business statesman" like Mr. O'Hare as their chairman.
Mr. O'Hare's background includes service as a member of the President's Advisory Committee on Trade Policy and Negotiations and membership in The Business Roundtable and a position as a financial governor of the World economic Forum.
SeaPass said its solution is priced at a minimum of $250,000, with costs running into seven figures where higher volume and greater training need exists.
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