Front Office Solution for Workers' Comp
Now, more than ever, workers’ compensation carriers are under intense pressure to grow the business while keeping costs down. As unemployment and economic uncertainty continues to depress the pool of employer payrolls, carriers and agents alike need to differentiate, grow market share and expand into new markets. And as state regulators continue to keep rates low, carriers will need to work harder to ensure profitability. The good news: collaborative underwriting can help you get there.
Powered by the FirstBest Front Office Suite, our front office solution for workers' comp will help you to build a more profitable business:
Profitable Growth – The workers' comp solution helps you to pursue the profitable business you want, while avoiding the business you don’t. Predictive analytics and a more consistent, business rules-driven approach will help your underwriters to make more disciplined – and profitable – decisions. Commercial- and specialty- lines insurers can provide better service that makes them the carrier of choice while increasing efficiency; lower the loss ratio by leveraging complete underwriting information, knowledge and rules; and scale the business with greater agility.
Scale the Business – The solution helps businesses scale up without a corresponding increase in resources. Automation, increased use of STP, and other powerful tools will help you to grow your business and succeed in new markets that were once considered unprofitable.
Become the Carrier of Choice – With FirstBest, you’ll be able to dramatically improve agent ease-of-doing-business through faster response times,increased visibility into the agent’s book of business, and greater agent efficiency.
Lower Operational Costs – The workers' comp solution helps your company to lower underwriting expenses. From easy- to-use interfaces to agent collaboration, to automated checklists, you’ll be able to provide your underwriters with all of the tools they need to make more decisions in less time.