FirstBest Systems, Inc., a provider of advanced Underwriting Management Systems (UMS) that enable commercial insurance carriers to write more and better business, has announced enhancements have been made to its flagship product.
UMS Version 2.0 now offers full, rules-driven straight-through processing (STP), including flexible online quotes for agents. Agents can upload and receive complete, bindable online quotes in seconds. Agency-automated letters of authority allow carriers to decide when and for whom online quoting is available.
New line-of-business content includes complete business owners policy (BOP) and commercial auto policy content. For both lines, this makes available ACORD supplemental and multiple coverage forms, ACORD printing, ACORD XML upload/download, class code generation, risk appetite rules, risk prequalification rules, and best practices content.
"This upgrade to our advanced UMS brings true straight-through processing to underwriters and offers unprecedented online functionality to agents–including online quotes and binders," says Julian Pelenur, CTO and cofounder of FirstBest. "We believe among the carriers that succeed in the current financial climate will be those that make it as easy as possible for agents to do business with them."
For large or complex risks, UMS 2.0 also supports import of Microsoft Excel-based Fleet or Statement of Value spreadsheets directly into the electronic submission. UMS 2.0 also features enhanced underwriting workflow capabilities, including enterprise tasking, advanced agent correspondence features, individual risk scorecards, and multiple-option quote proposals.
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