Insurance Software Company Overview
Oceanwide Inc. is dedicated to being the leading provider of hosted insurance software solutions for the global property & casualty insurance industry.
Oceanwide was founded with the following business principles which govern every aspect of the company’s ongoing evolution:
We build software that streamlines inter-company collaborative operations and focuses on the elimination of costs & errors associated with redundant data entry.
We also build in data warehouse reporting and business intelligence functionality directly into our software to maximize the value that users can make with easy access to standardized data.
We become experts in each line of insurance that we target in order to provide our clients sound advice on business process optimization and best practices. Our product offers the deepest functionality available to handle the most complex requirements, and our staff are the most knowledgeable on the market.
We provide full solutions that minimize the Total Cost of Ownership (TCO) for the system, with the understanding that implementation and ongoing support and IT costs often substantially outweigh initial software costs. Simply stated, Oceanwide is structured to manage system implementation from cradle to grave, and to fill any role that our clients need. Our services can include consulting, custom development and integration to existing systems, implementation management, data loading, custom documentation, a variety of training tools and personnel, equipment infrastructure and comprehensive hosting, monitoring & production support service, including 24x7 multi-lingual help desk support.
We share the risks and rewards associated with IT with our clients. Our fee structures call for minimal setup fees and ongoing costs tied directly to system usage and the value derived. This aligns our interests with our existing customers much more effectively than with the traditional software business model, and focuses our product development efforts on helping them realize increasing benefits from the system. This alignment and shared risk-reward approach improves implementation success and reduces overall costs for all parties.
Our commitment to these principles and initial focus on the marine insurance industry has resulted in the Genoa platform which boasts the largest global market share of marine insurers and brokers, the most policies, certificates and claims managed. We are uniquely focused on the industry, driving innovation, promoting standards for integration, expanding distribution channels and seeking new and improved ways to manage aggregation exposures. Finally, the strongest measure of our success is the extremely high level of satisfaction of our customer.