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Front Office Solution
for Specialty Lines Carriers
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“
Today, insurers are looking beyond legacy policy administration systems, spreadsheets, side tools, email, and manual processes, to a modern and flexible underwriting management system that enables specialty underwriting automation yet still provides the high-touch underwriting model
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Deborah Smallwood, Founder
Strategy Meets Action
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The specialty market must accommodate a wide variety of unique risks and requires more operational and system flexibility to meet insurer, broker and insureds needs.
The FirstBest front office solution for specialty lines carriers enables specialty insurers to seize new market opportunities, drive underwriting profitability in new and existing markets and improve service to brokers. The solution includes rapidly configured applications that bring together all of the data required for precision pricing and stronger underwriting discipline.
FirstBest’s front office solution brings flexibility, productivity, and quality to specialty lines underwriting:
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More accurate pricing for each risk
– The solution’s flexible workflow enables you to capture just the right data about the specific risk while also leveraging third-party data and specialized, integrated modeling tools. Now underwriters have all that information at their fingertips to accurately price and tailor terms and conditions to the risk characteristics in order to provide competitive quotations that also protect their profitability.
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Business agility
– The highly-configurable solution includes underwriting, broker portal, and upload components that can be rapidly tailored and deployed across different specialty lines as appropriate, enabling carriers to quickly capitalize on new market opportunities without extensive development and delays.
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Underwriting discipline
– The solution will help you to build a profitable book by embedding underwriting quality and discipline throughout the process with contextual supplemental questions, risk appetite rules, third-party services, models, production rating and pricing rules, underwriting checklists, electronic letters of authority, and automated referral detection and processing.
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World-class broker service
– By bringing productivity and quality to the underwriter, the solution enables you to deliver faster decisions to brokers, helping the broker provide service to their customer. In addition, it provides adaptive collaboration tools to streamline communication between underwriters and brokers. Finally, where appropriate, it allows brokers to expedite the submission process with easier entry, appetite alerts, pre-clearance, broker quote and bind, and visibility. It gives brokers optimal service that fits the risk, the broker and the distribution model.
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