SOURCE: FirstBest Systems

July 10, 2007 14:14 ET

FirstBest Systems Establishes Underwriting Knowledge Center

Growing Company Offers P&C Insurance Customers Deep Expertise, Solutions, and Best Practices to Address the Entire Underwriting Lifecycle

LEXINGTON, MA--(Marketwire - July 10, 2007) - FirstBest Systems™, developer of advanced Underwriting Management Systems™ that enable commercial insurance carriers to profit from better underwriting, today announced the formation of an Underwriting Knowledge Center. Led by insurance industry experts with a significant amount of insurance expertise, the new group will offer customers deep, focused insurance industry knowledge and best practices to enhance the core business process of underwriting.

FirstBest Systems is a new software company formed to address the need in the commercial insurance industry for a web-based solution, specifically designed to address today's underwriting challenges. With the formation of the Underwriting Knowledge Center, FirstBest now offers a complete business solution combining state-of-the-art software and industry best practices, to help carriers achieve profitable growth and greater customer intimacy with agents.

The FirstBest Underwriting Knowledge Center will be led by Robert R. Lukas, Vice President, Underwriting Sciences. With more than 30 years of insurance industry and IT experience, Lukas is an expert on establishing effective IT governance models for property and casualty (P&C) enterprises and exploiting technology to create revenue-generating opportunities. Lukas is the former CIO of the Hartford's Property/Casualty Company. He founded and directed the Hartford Technology Services Company, a Hartford subsidiary that provides technology services to the Hartford and other corporations. He also served as president of CLA Corp., a Hartford subsidiary that marketed insurance software and technology services to other insurance carriers.

The Underwriting Knowledge Center team also includes:

--  Kelly Lynch, FirstBest Senior Director, Underwriting Sciences,
    Chartered Property Casualty Underwriter (CPCU). Lynch brings more than 15
    years of insurance industry experience to FirstBest, including underwriter
    for Kemper National Insurance Company, loss control engineer for highly
    protected risk (HPR) property accounts with Industrial Risk Insurers,
    manager of facultative and treaty business for Swiss Re America's
    Engineered Risk Department (ERD), and manager of Quanta U.S. Holdings'
    program division, where she had operational and underwriting oversight over
    more than $175 million of direct written premiums written by Managing
    General Agents on behalf of Quanta.
--  Paul Cummings, FirstBest Vice President, Engineering. Previously, as
    vice president of worldwide software development for the S1 Corporation, he
    led the creation of S1's Enterprise Insurance product line and managed
    development of other Web-based financial services products.
--  Leonard C.G. (Geoff) Smith, CPCU, FirstBest Strategic Advisory Board.
    With over 35 years of insurance industry experience, Smith was most
    recently executive vice president, CIO and board member of ePolicy. After a
    30-year career at Hartford Financial Services Group, he retired as
    president, Commercial Affinity Operations, one of three Hartford North
    American Property/Casualty operating companies. His career there spanned
    commercial P&C underwriting and sales leadership.
--  William F. (Bill) Cutting, CPCU, FirstBest Business Analyst,
    Underwriting Sciences.  Cutting brings 25 years' experience in underwriting
    management and sales to FirstBest. Previous roles have included production
    specialist with Lexington Insurance, a leading P&C insurer; underwriter
    consultant with Kemper Insurance Companies; director of underwriting for
    RTW; portfolio underwriter for Liberty Mutual Insurance Co.; senior
    underwriter with American International Group (AIG); and pricing analyst
    with The Hartford Insurance Group.
    

"Carriers today are looking for a way to unlock the rich knowledge and best practices they have in their best underwriters to improve the consistency of underwriting," said John Belizaire, CEO of FirstBest Systems. "We have created a solution that includes a next-generation product and deep industry expertise to help solve that problem."

About FirstBest Systems

Founded in 2006, FirstBest Systems delivers advanced Underwriting Management Systems (UMS) that enable commercial insurance carriers to profit from better underwriting. FirstBest's UMS is a business solution provided as a Web-based platform for underwriting all lines of business. It uniquely delivers straight through processing, exception-based underwriting, real-time collaboration, knowledge management, a management dashboard, and an execution platform for predictive modeling -- in one integrated solution. The deployment of this solution results in increased revenue and profitability, closer agent-underwriter relationships, management visibility into the underwriting process, and the continuous capturing and sharing of underwriting experience and best practices.

For more information, please visit www.firstbest.com.

Contact Information

  • Press contact:
    Meira Primes
    VP Marketing
    FirstBest Systems
    781.863.6005
    Email Contact