FirstBest Systems, a provider of insurance software solutions, has launched its new ACORD-based underwriting management system, FirstBest UMS Express solution, for workers’ compensation insurers.
The new solution, which can be deployed in three months, provides insurance carriers allows them to improve underwriting profitability, foray into new markets, and deliver new products.
FirstBest vice president of engineering Paul Cummings said that the new platform provides rapid time to underwriting improvement.
"The solution provides underwriting workflow, collaboration, and access to third-party data, all in less time than the typical requirements phases of other system deployments," Cummings added.
The new solution also provides access to third-party data and reports within the underwriting process, tasks and reminders, automated letters of authority and underwriting referrals, quote, bind and policy issuance processes, and real-time dashboards and management reports.