Single system, SaaS delivery, configurability, modern UI and extensive functionality key to Mutual of Omaha’s Oceanwide decision
Montreal, Quebec and Omaha, NE – October 6, 2015 – Oceanwide, an Insurity company and developer of industry-leading, configurable, SaaS based insurance software, today announced that Mutual of Omaha, a leading insurance and financial services company, has selected Oceanwide Bridge to support core processing for the company’s Special Risk participant accident insurance product.
Oceanwide Bridge will enable the Special Risk Division of Mutual of Omaha to replace the current multiple systems; consolidating quoting, rating, binding, and policy processing onto the single Oceanwide solution. The new system is a true SaaS based application, enabling rapid implementation and a quick-to-value timeline.
The Oceanwide Bridge solution being deployed by Mutual of Omaha includes: an agent/consumer portal, underwriter workstation, rating, billing, document production and business intelligence reporting.
Scott Hanson, vice president of Special Risk for Mutual of Omaha, said, “In searching for a new system to replace our multi-system legacy environment we wanted a solution that would provide us capabilities that include support for agent and policyholder access. We were also looking for a system that would afford us a high level of self-sufficiency. Oceanwide Bridge proved to be the best solution to meet our needs.”
In addition to the single system environment, anticipated benefits from implementation of Oceanwide Bridge include streamlined processing, improved cost and process efficiencies, elimination of duplicate data entry and the ability for both agents and consumers to access the system via Bridge Portal. With Oceanwide’s Smart Configuration, Mutual of Omaha’s staff will be able to quickly make system modifications as product and process needs change over time, without the need for any coding, programming or scripting.
“We are pleased to be chosen by a prestigious and top tier organization like Mutual of Omaha,” said Mitchell Wasserman, chief executive officer, Oceanwide. “Being recognized for the quality of our offering, our SaaS delivery for quick implementation, and our ability to help transform Mutual of Omaha’s operation is gratifying. We look forward to working with the team to ensure they enjoy the maximum value of the investment in Oceanwide.”
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), Oceanwide Bridge also includes modules for rating, document/policy generation, workflow management, and reporting & analytics, as well as agent and consumer portals. Oceanwide Bridge enables a high degree of self-sufficiency, and features support for multi-lingual and multi-currency transactions.
About Mutual of Omaha
Mutual of Omaha is a full-service, multi-line organization providing insurance, banking and financial products for individuals, businesses and groups throughout the United States. For additional information, please visit the Mutual of Omaha website at www.mutualofomaha.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.