The Insurance Exchange and FirstBest

The recently announced LexisNexis-CIAB Insurance Exchange will ease the submission and collaboration process for agents, brokers and carriers. LexisNexis has selected the FirstBest technology solution as a core technology provider to give the initiative a head start. Pilot programs for selected lines are scheduled to begin in the fall of 2010, with full production scheduled for early 2011. For more information, please contact LexisNexis® Risk Solutions.

FirstBest’s mission is to enhance the entire underwriting process from application submission to policy issue. The solution is designed to facilitate the new business and renewals underwriting process and provides a unique agent-carrier experience that is automated, provides real-time collaboration and business visibility to agents/brokers and carriers alike, and provides access to key market information and analytics for better decision making.

FirstBest customers that choose to participate in the Exchange will be able to do so seamlessly and will be able to provide a differentiated experience to their distribution channel. Current customers will process exchange business with greater speed and efficiency and will be able to easily process both non-exchange and exchange business on a single underwriting system and process. Pilot program participation and other early access benefits will be available to FirstBest customers.