Configurability, Functionality, Time to Market Key to Decision
Montreal, Quebec and Kansas City, Missouri – 01/19/2016 – Oceanwide, an Insurity company and developer of industry-leading, configurable, SaaS based insurance software, today announced that Forrest T. Jones & Company (FTJ), an insurance agency and administrator providing insurance products and other financial services to members of associations and other affinity groups, has selected Oceanwide’s Bridge for its policy administration needs for the new Accountants Professional Liability Program.
FTJ will be acting as the Program Administrator to market, underwrite and administer the new program under its ProDefenderTM product line designed for accounts with annual revenues up to $5 million. Bridge will enable the company to process new and renewal business. In addition to the solution’s breadth of functionality and portal capabilities, key to the decision was Bridge‘s extensive configurability required to help FTJ achieve its quick time to market goals.
Commenting on the Oceanwide decision, Leroy McCarty, vice president of Operations, Forrest T. Jones & Company, said, “We selected Bridge in large part for its configurability and dynamic portal capabilities. The SaaS implementation was also especially attractive to help us meet our aggressive production timeline.”
Anticipated additional benefits from the implementation of Bridge include streamlined processing and the ability for both the program’s carrier underwriters and agents to access Bridge Portal. With Oceanwide’s Smart Configuration, Forrest T. Jones’ staff can achieve the desired self-sufficiency, including the ability to manage program changes and updates, and the option of adding new programs/products in the future — all without the need for any coding, programming or scripting.
“We are pleased to be chosen by an organization like Forrest T. Jones,” said Mitchell Wasserman, chief executive officer, Oceanwide. “We believe that the flexibility of our solutions is ideal for businesses like FTJ that are aggressively growing and adding new products. We look forward to working with the team to ensure they enjoy the maximum value of the investment with Oceanwide.”
Bridge is a core administration (policy, billing and claims) suite specifically designed to streamline processing for property and casualty (P&C) insurers, brokers, and MGAs. Easily configured by business users and featuring an intuitive user interface (UI), Bridge also includes modules for rating, document/policy generation, workflow management, and reporting & analytics, as well as agent and consumer portals. Bridge enables a high degree of self-sufficiency, and features support for multi-lingual and multi-currency transactions.
About Forrest T. Jones & Company
Forrest T. Jones & Company is an insurance broker and third-party administrator formed in 1953 to provide insurance products and other financial services to members of associations and other affinity groups.
Based in Kansas City, MO, the firm’s staff of 250 insurance professionals provides comprehensive insurance programs and full-service administration for more than 80 national associations and hundreds of employer groups, and the agency works with the nation’s leading insurance carriers. FTJ has been active in the professional liability insurance market for more than 40 years. For more information, visit www.ftj.com.
Oceanwide, an Insurity company, delivers SaaS core processing solutions to property and casualty (P&C) insurers of all sizes to enable faster reactions to market changes, easy configuration and management of new and existing products for increased speed and lower costs across all lines of business, virtually eliminating professional service fees. Web-enabled and fully-configurable by end users without custom programming, Oceanwide’s insurance software solutions automate core administration (policy, billing, and claims), as well as underwriting, document generation, agent/consumer portals and reporting. Globally, Oceanwide’s software fills gaps in existing legacy systems and provides a modern, end-to-end solution for insurers. For additional information, please visit the Oceanwide website at www.oceanwide.com, or call (888) 289-7744.