Underwriting Workstation

Underwriting Workstation


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FirstBest Underwriting Management System (FirstBest UMS®) is an integrated business application, designed for commercial and specialty lines insurance carriers to drive premium growth and profit from better underwriting. This rich, web-based platform delivers straight-through processing, exception-based underwriting, real-time collaboration, and knowledge management in one integrated solution.

FirstBest UMS consists of a next-generation underwriting workstation that consolidates all the tools, risk information, third-party data, and reports your underwriters and producers need to collaborate productively on risk assessment decisions — so they can focus on risk analysis and close more business in less time. Within the complete configuration environment of FirstBest UMS, business analysts can rapidly build and establish workflows, business rules, screens, data fields, and more.

Designed by underwriters and agents, FirstBest UMS is your hub for all underwriting activity across the enterprise and with any policy administration environment. The solution can help you deploy products faster to keep up with market needs and competitive demands.

By streamlining and standardizing underwriting processes across the enterprise, you can achieve faster and more accurate underwriting and improve service to your producers and policyholders. UMS establishes consistent workflows to institutionalize and propagate the knowledge of your most experienced underwriters — while maintaining best practices and enforcing rules and underwriting authority throughout your organization.

UMS supports all commercial and specialty line of business. Click here to learn more.

Key Features

Real-Time Collaboration
Author and capture all the collaboration about a risk, including notes, e-mail, documents and real-time chat in one searchable, electronic file. Upload e-mails and attachments directly from Outlook to the underwriting file using the UMS Outlook Plug-In. Configure e-mail notifications throughout the workflow to ensure submission-related emails are conveniently sent and captured whenever appropriate.
New Business, Renewals, and "Day 2" Transactions
Perform all transactions for all lines of business from one system. Automatically generate renewals and automatically underwrite them, based on configurable business rules. Support mid-term endorsements, cancellations, rewrites, reinstatements, and reissues.
Account-Based Underwriting
Provide visibility into all submissions ever received for a given risk from all sources; perform clearance at the account level, and manage account-level data centrally. Combine quotes spanning multiple submissions into a single, coordinated proposal.
Enterprise Tasking
Create and manage tasks associated with the underwriting workflow. Enable members of a team to pull work from a task queue based on their skills and the task priority. Bulk update tasks when things change, such as when work needs to be reassigned.
Underwriting Checklists and Electronic Letters of Authority
Capture the underwriting expertise of your most experienced underwriters in Checklist Rules that guide the underwriting process for all. Configure an electronic letter of authority to ensure that underwriters don’t exceed their authority; define an on-line referral workflow to quickly approve or decline referrals.
Integrated Third-Party Data, Modeling, and Analytics
Seamlessly integrate any third-party data or modeling tool into the underwriting process; out-of-the box integration with Dun & Bradstreet, Experian, Verisk, NCCI, WCIRB, RiskMeter, and Valen.
Simple Integration to Backend Systems
Configurable, out-of-the-box integration capability for passing data to and from backend systems, such as rating engines and policy administration systems. Designed for easy integration with an enterprise service bus.

Key Benefits

One-Stop Process for Underwriters
Provide a single system for underwriters to use to perform all underwriting-related work; eliminate the need for underwriters to use many systems or reference documents, such as document management system, external data systems, web sites, underwriting guidelines, loss control system, rating engines, clearance systems, and policy administration systems.
Empower Your Distribution Channel
Give your agents and MGAs the power to underwrite within their defined authority; rest easy knowing that you can easily refine the business rules that control this flow.
Improve Visibility
Ensure that all participants in a submission have complete visibility to all relevant data about the risk; streamline work assignments and hand-offs between staff. Know where a risk stands at all times.
Underwrite Accounts, Not Submissions
See the whole picture of an account — not just a single line of business or policy — when making underwriting decisions.
Enforce Underwriting Authority
Ensure that underwriters are not violating their authority; enable fast, on-line referrals so that enforcing authority doesn’t slow down underwriting.
Grow and scale the business profitably without increasing resources.
Improve Underwriting Profitability
Underwrite the right risks at the right price; automatically decline risks that don’t fit your appetite. Utilize underwriting scorecards, analytics, and external models to ensure the price is right.