CRES Insurance Services Adopts Oceanwide's Bridge Cloud-Based Insurance Processing System

MONTREAL and ATLANTA, GA--(Marketwire - Feb 5, 2013) - Oceanwide, Inc. (Oceanwide), a leading provider of cloud-based insurance applications for the global property & casualty (P&C) insurance market, today announced that CRES Insurance Services (CRES) has successfully adopted Oceanwide's Bridge cloud-based insurance processing application.

CRES, a leading provider of E&O insurance and risk management products to the real estate industry, will utilize Oceanwide's Bridge for processing business in all lines of business the company currently writes. Bridge is a mobile web-based suite of modules that provides end-to-end processing for P&C insurance companies, brokers, and MGAs. Bridge's system modules include policy administration, rating engine, document/policy production, workflow management, claims administration, billing, business intelligence, and agent/consumer portal, and can be operated as a true cloud or on-premise system implementation.

"Our goal was to find a system where we could leverage the technology infrastructure of the cloud while having complete control over changes for all aspects of the system," said TJ Galati, chief information officer of CRES. "We were impressed that our own non-technical staff could modify, not only rates and forms, but also add new data elements as well as design new portals and user interfaces without having to learn a complex scripting or programming language. The system is very robust and deep in functionality, but is extremely easy and quick to configure existing processes as well as new products. We needed that agility to respond to ever-changing market conditions. Bridge supports our direct-to-consumer strategy."

"CRES is well known in the market that they serve," said Mitchell Wasserman, president and CEO of Oceanwide. "Their top priority is providing service beyond the expected. We are honored to have been selected by CRES Insurance Services as their insurance processing system vendor."

Wasserman noted this will be the 15^th implementation of Bridge in less than two years.

For additional information, please contact Lisa Fletcher, North American Sales for Oceanwide at 563-639-7317 or lisaf@oceanwide.com.

About Oceanwide, Inc. (Oceanwide)
Oceanwide has been providing multi-line solutions to the global insurance industry for over 15 years. Its cloud based applications enable carriers, brokers and MGAs to get to market quickly and efficiently, enhance the customer and agent experience and provide access to new revenue generating opportunities. Oceanwide's proven track record of successful implementations, unparalleled customer service and domain expertise provide a comprehensive solution to their clients and enable them to differentiate themselves from their competitors.

About CRES Insurance Services (CRES)
CRES Insurance Services, established 1996, is a Managing General Agent who protects hundreds of professions with innovative risk management and insurance programs that focus on small and middle-market businesses. We're best known for our industry-leading professional liability programs for real estate and financial professionals. Our other programs include small to mid-sized Restaurants, Auto Repair and Non-Franchised Auto Dealers, Nursing Homes and Privatized Military Housing. We offer a variety of other products including broad surplus lines binding authorities to serve a wide class of main street businesses that we distribute both directly and through hundreds of retail partners.