BriteCore | September 19, 2022
BriteCore, a next-generation provider of cloud-native core administration solutions for property and casualty (P&C) insurers, today announced the launch of the BriteCore Platform, a comprehensive suite for managing policies, billing, and claims complete with advanced analytics, a ratings engine, and agent and policyholder portals.
As the insurance industry trends toward greater levels of customer-centricity, BriteCore is redefining the traditional boundaries and capabilities of policy administration systems (PAS) with the BriteCore Platform by enabling small to mid-size insurers and managing general agents (MGAs) to gain a competitive edge against larger companies. In fact, recent BriteCore research into current technology and industry trends in North America found 94 percent of survey respondents rely on core systems to support business growth initiatives, improve efficiency and productivity, and modernize operations. Further, the BriteCore P&C Core Systems Survey confirmed industry leaders see modern, cloud-native core systems as a solution to the challenges driving a continuous need for enhanced business operations and customer experiences.
“When we decided to move away from the legacy system which had been running our business for years, we chose the BriteCore Platform since it enabled us to establish new business processes that deliver exceptional agent and policyholder experiences, all while providing options to better manage cost and grow our business, In addition, the BriteCore Platform decreased our dependency on on-prem solutions and future-proofed our IT environment by allowing us to easily integrate with existing and emerging technologies going forward.”
-Nancy Newmister, President and CEO for Frederick Mutual Insurance Company
In addition to the BriteCore Platform’s comprehensive digital core functionality, new and enhanced features available immediately include:
E-Signature – Through a new partnership with DocuSign, the BriteCore Platform provides agents and policyholders with the option of signing documents electronically during the quoting and underwriting process. E-signature delivers faster time to revenue, greater ROI and cost savings, and reduced risk through improved compliance.
Advanced Analytics & Reporting – BriteCore extended the core platform to deliver persona-based executive dashboards, advanced analytics and reporting. Now agents, executives, and line-of-business leaders (underwriting, claims, billing) can easily create custom and standard reports, identify new business opportunities for growth or cost savings, and translate their data into actionable insight.
UI Enhancements – BriteCore performed a major update to the platform user interface to ensure the experience for agents, policyholders, and insurance carrier staff benefits from a simple, modern design that is easy to learn and use while delivering a consistent look-and-feel.
Enhanced Comprehensive IT Environment – Backed by AWS for reliability, scalability, and enterprise-grade security, the BriteCore Platform is relied upon to provide a comprehensive IT environment for completion of mission-critical insurance processes. BriteCore added to the range of Amazon Web Services (AWS) services and technologies used to support the BriteCore platform in such areas as delivering fast and responsive query performance through a robust in-memory engine.
The BriteCore Platform redefines and expands the capabilities P&C insurers industry-wide, and our ever-growing number of insurer customers, can expect from a core system, Historically, core systems focused on automating internal processes and workflows. The BriteCore Platform automates internal AND external processes, provide superior underwriting and claims processing experiences for agents and policyholders, and integrates a wide range of external services and data sources to improve the competitiveness of insurers. Today and into the future, the BriteCore Platform can be relied upon to provide a comprehensive IT environment for completion of mission-critical insurance processes,said Ray Villeneuve, CEO for BriteCore.
BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, enhances the customer experience, and delivers great efficiency gains. BriteCore provides end-to-end support for insurance operations that includes policy administration, an agent and policyholder portal, rapid product configuration, underwriting rules and rating, billing management, claims management, document management, and reporting. As a cloud-native solution, BriteCore is continually updated for maximum security, efficiency, and durability at scale.
Vertafore | October 06, 2022
Vertafore®, the leader in modern insurance technology, today announced its Commercial Submissions™ solution has been recognized for technology innovation by the NU PropertyCasualty360 Luminaries program. This industry-focused recognition program spotlights innovation by companies, people, programs, and practices that are modernizing and humanizing the P&C business.
The platform was honored for automating and simplifying one of the industry's most time-consuming processes: quoting small commercial insurance. Honorees are selected by a panel of industry experts.
In a September 2022 survey of 800 independent agents, Vertafore found that 65% of respondents said their agency would benefit from automated quoting for commercial insurance lines. However, less than one in ten said they had access to such technology.
Commercial Submissions is delivering a game-changing experience for independent agents and the business clients they serve by:
Connecting agencies and carriers in real-time, allowing the exchange of structured data and real-time quoting.
Enabling real-time digital collaboration with clients to complete applications quickly and accurately.
Prefilling information from Vertafore agency management systems and third-party sources to reduce redundant, manual data entry.
The award reflects the platform's growing momentum. Vertafore also recently announced the latest carriers to join Commercial Submissions, bringing even more choice to the solution.
"Commercial Submissions isn't technology just for the sake of innovation, it is about making it faster, easier and simpler for agencies and carriers to work together to deliver the coverage their clients need, We're honored that the platform is being recognized for helping to modernize and humanize market connectivity."
-James Thom, chief product officer at Vertafore
As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore's solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers.
Combined Insurance | November 21, 2022
Combined Insurance Company of America, a Chubb company and a leading North American provider of supplemental insurance sold to employees at the worksite and directly to individuals, announced today that it has opened a new regional office in Columbia, South Carolina.
"While the trend in many industries is to move away from in-person work, Combined believes it's important to offer our team members choice, flexibility, and a collaborative environment, Columbia is a wonderful place to do business. It offers a labor market talent-rich in insurance industry expertise, and the Southeast is a prime region for voluntary business sales growth."
-Rich Williams, President of Combined Insurance
Open, Flexible Space
Combined's new regional office is located in 13,000 square feet on the 23rd floor of the Capitol Center, South Carolina's tallest building and more commonly called the Truist Building. The open floor plan provides an outstanding setting in which to host broker and customer meetings.
Nearly 30 team members in the Columbia area, who previously worked remotely, will call the office home, including a cross-departmental mix of executives, sales and field support leadership, as well as members of the claims, compensation, finance, legal, licensing, marketing and operations teams. The office also provides additional space to accommodate additional staff as needed in the future.
We have created a space where our teammates – not only from the Midlands but across the national Combined footprint – can gather to collaborate and work on behalf of our customers and policyholders, The area's abundant talent across job roles and the benefits industry makes it the perfect place for Combined to grow,said Eileen Castolene, Senior Vice President and Chief Operations Officer for Combined.
Voluntary Benefits Sector
Combined offers life, accident, cancer, critical illness and disability insurance, as well as hospital indemnity protection. These products, when offered through the worksite, allow employers to offer employees additional financial peace of mind during these times of rising healthcare costs and economic turbulence.
In today's tight labor market, a competitive benefits package can assist employers in recruiting and retaining talent. In fact, more than three-quarters of employees say voluntary benefits positively affect their decision to work for, or stay with, an employer (Corestream, 2021).
Today's announcement comes at an important time for Combined, as it celebrates its 100th anniversary in business. The company was founded Nov. 13, 1922 in Chicago.
As we mark our 100th birthday this week, and celebrate our distinctive history, we're proud to start our second century by expanding our office footprint and investing in Columbia, This new office enhances our ability to provide insurance solutions of value and help individuals and families in times of need,Williams said.
About Combined Insurance
Combined Insurance Company of America is a Chubb company and a leading provider of supplemental accident, health, disability, and life insurance products in the U.S.* and Canada. Headquartered in Chicago with a tradition of 100 years of success, we are committed to making the world of supplemental insurance easy to understand. The company has an A+ rating by the Better Business Bureau and an A + (Superior) financial strength rating by A.M. Best. We are ranked by VIQTORY as the number one Military Friendly® Employer in 2022 (over $1 billion revenue category), marking Combined's eleventh consecutive year on the Top 10 list.