Montreal, QC and Atlanta, GA – February 5, 2013 – Oceanwide, Inc. (Oceanwide), a leading provider of cloud-based insurance applications for the global property & casualty (P&C) insurance market today announced that CRES Insurance Services (CRES) has successfully adopted Oceanwide’s Bridge cloud-based insurance processing application.

CRES, a leading provider of E&O insurance and risk management products to the real estate industry, will utilize Oceanwide’s Bridge for processing business in all lines of business the company currently writes. Bridge is a mobile web-based suite of modules that provides end-to-end processing for P&C insurance companies, brokers, and MGAs. Bridge’s system modules include policy administration, rating engine, document/policy production, workflow management, claims administration, billing, business intelligence, and agent/consumer portal, and can be operated as a true cloud or on premise system implementation.

“Our goal was to find a system where we could leverage the technology infrastructure of the cloud while having complete control over changes for all aspects of the system,” said TJ Galati, chief information officer of CRES. “We were impressed that our own non-technical staff could modify, not only rates and forms, but also add new data elements as well as design new portals and user interfaces without having to learn a complex scripting or programming language. The system is very robust and deep in functionality, but is extremely easy and quick to configure existing processes as well as new products. We needed that agility to respond to ever-changing market conditions. Bridge supports our direct-to-consumer strategy.”

“CRES is well known in the market that they serve,” said Mitchell Wasserman, president and CEO of Oceanwide. “Their top priority is providing service beyond the expected. We are honored to have been selected by CRES Insurance Services as their insurance processing system vendor.”

Wasserman noted this will be the 15th implementation of Bridge in less than two years.