First Best Systems, Inc., a provider of advanced underwriting management systems that enable commercial insurance carriers to profit from better underwriting, and Insurance Information Technologies, Inc. (INSTEC), a developer of commercial lines rating and policy administration solutions, have announced a strategic alliance to deliver comprehensive underwriting solutions for property/casualty insurance carriers.
As technology partners, FirstBest and INSTEC will explore opportunities to develop underwriting solutions that leverage INSTEC's rating engine and FirstBest's advanced UMS, an underwriting system that delivers underwriting automation with real-time agent/underwriter collaboration, 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," says INSTEC CEO Ray Simon. "FirstBest shares our commitment to deliver underwriting solutions to 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."
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